One of Auckland’s largest business parks is being offered to the market in what shapes as New Zealand’s biggest property sale of the year.

Having undergone a significant transformation over recent years, the park is home to a number of high profile tenants, attracted to its central location, transport connectivity and vibrant retail amenity, including a new hospitality precinct called The Green. 

Central Park Auckland occupies a prime a 4.8ha site, offering more than 43,000sqm of commercial floor space and further development upside. The precinct is located only metres from the Ellerslie train station and less than 10km from Auckland’s CBD via the Southern Motorway, accessible via both the Ellerslie and Greenlane interchanges.

Prominent occupiers such as Colgate, Bunnings, Estée Lauder and  NZ Transport are among the 69 office tenants across 11 buildings who are serviced by more than 1,700 car parks.

Oyster Property Group has transformed the business park with extensive investment in the new hospitality precinct, The Green, and upgrades to numerous amenities within the park. Mark Schiele, Chief Executive Officer at Oyster Property Group, says the site’s central location and proximity to transport networks and other amenities makes it highly appealing for prospective tenants.

“We have witnessed a significant increase in demand from corporate and government occupiers looking for an alternative to the CBD,” Schiele says.

 “Central Park is now a thriving community in its own right. The investment made into creating a large outdoor space with entertainment options linked to food and beverage offerings, known as The Green, has proven to be very popular with new and existing occupiers.”

Schiele says retailers in Central Park will benefit from the adjoining residential developments given the influx of new residents to the area, reflecting the rapid growth of the precinct.

“Our engagement and activation of the Park has started an important transformation, but this is just the beginning. I am really looking forward to seeing how the Park will continue to evolve. The future development capacity now available provides exceptional growth opportunities and I foresee another decade or more of evolution.”

“We have worked hard on enabling the prime Ellerslie asset to reach its full potential, and we are now in the fortunate position of having no GFA development  caps across the entire site..

“In the medium term, we can add more than 30,000sqm of space to the area in a combination of redevelopments and new builds, making this super attractive to investors with a development mindset. 

Central Park is being offered to the market by joint sole agents Colliers and McVay Real Estate.

Richard Kirke, Director of Capital Markets at Colliers, says given the calibre of this asset, there will be broad interest from both domestic and offshore institutional and private equity funds.

“We still have strong offshore capital demand, despite New Zealand’s border restrictions, and assets  like Central Park that offer so much future growth potential with excellent green spaces are highly appealing to investors,” Kirke says.

Sam McVay, Managing Director at McVay Real Estate expects interest from a variety of Buyers, saying ”Central Park offers an incredibly robust income profile providing a high running yield and a low in place rate per square metre acquisition price. When combined with a number of immediate and longer term value add initiatives, we can see it appealing to a number of Australian based investors.” 

The property is being offered to the market by way of an expression of interest campaign closing at 4pm on Thursday 11November.

Central Park is being offered to the market by joint sole agents Sam McVay, Dan McVay and Robe Sewell of McVay Real Estate together with Richard Kirke, Peter Herdson and Jason Seymour of Colliers. 

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.