Shopping centre Dress Smart Auckland has been placed on the market for full freehold sale, following the sale of Dress Smart Christchurch to Oyster Property Group in March.

Located at 151 Arthur Street in Onehunga, the retail destination was established in 1995 and occupies a 24,626sqm site.

The multi-level facility spans 13,076sqm of gross lettable area, houses 90 tenancies, and includes 844 parking spaces. 

Current operational metrics reflect an occupancy rate of approximately 98 per cent, generating nearly $100 million in annual retail sales.

CBRE New Zealand and Colliers have been jointly appointed to market the 100 per cent freehold property through an international Expressions of Interest campaign closing on August 20.

The tenant mix features international brand outlets, including Adidas, Puma, Tommy Hilfiger, Calvin Klein, Under Armour, New Balance, and Coach. 

Recent capital works at the site have focused on upgrading public amenities and building finishes to reduce short-term maintenance demands.

The property is designated under the Business – Town Centre Zone of the Auckland Unitary Plan, allowing for future expansion or mixed-use development.

The retail trade catchment encompasses an estimated 1.7 million residents within the broader region, supported by transport infrastructure including access to State Highway 20 and nearby public transit lines.

“Dress Smart Auckland represents a scarce opportunity for prospective purchasers to acquire an established retail presence in a high-growth location,” said Richard Kirke, MD at Colliers.

“Retail assets are currently sought-after in the commercial property sector with buyers drawn to their underlying investment fundamentals and income growth expectations.”

In March, Oyster Property Group acquired Dress Smart Christchurch in a 50/50 joint venture with an entity associated with the William Pears Group.