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Auckland

Retail spaces on offer in luxury Ramada Albany development


 

 

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Commercial property specialists JLL have been appointed exclusive agents to sell and lease 11 retail units in Auckland’s new major hotel development on the North Shore, Ramada Albany. JLL’s retail sales and leasing agents Chris Beasleigh and Ranesh Parmar are seeking a diverse range of operators and investors to take up the retail spaces.

Chris Beasleigh, National Director of JLL’s retail team says, “The Ramada development is one of the newest hotel additions to the North Shore, with construction due to begin in December 2015 and expected to be complete by the end of 2016. The boutique 4-star development will be managed by international hotel chain, Ramada Group and comprises 66 furnished units, 14 of which have sold, 18 residential apartments all of which have been sold and 11 ground level retail units. With the development only just released to market a big push of sales is expected for 2016.”

Ramada Albany is to be situated in a thriving precinct that has seen huge residential growth, including the addition of 800 apartments in the adjacent block, therefore JLL expect demand to be high for the 11 retail units. Albany’s convenient location is situated just 15km from Auckland’s CBD and provides easy access to motorway connections and main arterial routes which has added to its increasing appeal and growth. 

Statistics NZ have projected a resident growth of 18,300 from 2013 to 2043 and JLL expect this trend will continue upward. There has also been a significant increase in the Albany employee count which is currently at 6,630, a 78% increase since the 2005 count of 3,730. 

Beasleigh adds, “The strong growth in the Albany area continues to create demand for retail and commercial offerings and the Ramada development will cater to this and add to the range of retailers already established in the surrounding areas such as Westfield, Mega Mitre10 and local supermarkets.”

“Albany is dubbed to be one of the fastest growing areas within Auckland over the next 30 years and has seen rapid expansion of its retail and commercial sector. The available retail units present investors and retail operators with the opportunity to secure a space in line with current demand,” says Beasleigh.  

The 11 retail units on offer range in size from 86sqm to 370sqm and provide tenants with the added option of combining several smaller units. The larger northwest unit is suited ideally for a restaurant or bar operator as the space includes large outdoor deck areas whilst the north east unit is most suitable for a café operator. 

Ranesh Parmar, JLL’s Associate Director of Retail says, “We are seeking a wide range of tenants for these retail spaces and believe this development is ideally suited for convenience service offerings such as food and beverage operators or gyms in order to cater to the surrounding Albany population.” 

The Ramada Albany development will also feature 85 underground car parks and 67 ground level parks along with an extension to the park and ride and the Oteha Valley off ramp.