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Highland Park property of value

20 Dunrobin Pl, Highland ParkA retail investment opportunity in Auckland’s Highland Park has come onto the market for the first time in nine years.

The modern centre is situated in the Eastern Bays retail precinct, and compromises of seven retail units.

Major retail tenants include Coffee Club, Pita Pit and Tank Juice.

Retail trade businesses within the surrounding area have risen by 40 per cent between 2003 and 2013.

The Howick local board has experienced a population growth of 12 per cent since 2006, and is predicting further growth of 14 per cent before 2031.

“With few comparable retail investments currently available, the property at 20 Dunrobin Place provides a once in a cycle opportunity for astute investors,” Andrew Brown, JJL investment sales director, said.

Each retail unit has its own title, and the site in part of a strata estate in freehold, with a 2100sqm rentable area and tenancies that range in size from 87.5 to 1000sqm.

There is a strong ongoing performance in the retail sector across Auckland and New Zealand, said Brown.

Retail sales have recovered following the Global Financial Crisis, growing by 17.6 per cent – a faster rate than the overall economy and faster than almost of all the OECD countries over the same period.

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