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Auckland

Last chance to invest in retail at Ramada Albany

Ramada Suites Albany nearing completion


 

 

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Ramada Albany Night small-min.jpgRetail spaces are still available to buy or lease in the new Ramada Suites Albany development, which is well on its way to completion.

When the development opens in early 2017, the Ramada Suites Albany will be home to 18 residential and 66 serviced apartments on the corner of Kaipiho Lane and Cornerstone Drive. 

The apartments have all been pre-sold but investors can still take advantage of the retail opportunities. 

In total the Ramada has 14 retail spaces, many of which have already been sold or leased by JLL. They range in size from 51sqm to 164 sqm and each has some outdoor space. 

“The site is looking good. The roof is on, all of the major construction work has been done and fit-out works are under way,” JLL’s head of retail Chris Beasleigh says. “We’re really looking forward to seeing all the retailers open for business early next year.”

Ramada is part of the Wyndham Hotel Group – the world’s largest and most diverse hotel company, encompassing more than 7,190 hotels and 609,600 rooms in 66 countries around the world.

Retail tenants, owner-occupiers and investors should get in touch with JLL retail specialist Ranesh Parmar to find out more about the opportunities at Ramada Suites Albany. 

“We still have a few spaces left for sale or lease. There are also some tenanted investment opportunities including the spaces occupied by Coffee Club and WOW Sushi,” Parmar says. ​

Albany’s convenient location is just 15km from Auckland’s CBD. It is easily accessible by motorway and the main arterial routes, which has added to its increasing appeal and growth. The Northern Busway station at Albany with its Park & Ride facility is just a short stroll away from the Ramada Suites Albany. 

North Harbour Stadium and Westfield Albany mall are both close by. The Westfield Albany is one of the largest shopping centres in New Zealand with a gross lettable area of 53,059sqm.

Statistics NZ has projected growth in the residential population in the area of 18,300 in the period between 2013 and 2043. There has also been a significant increase in the Albany employee count which is currently at 6,630, a 78 percent increase since the 2005 count of 3,730. 

“The strong growth in the Albany area continues to create demand for retail and commercial offerings,” Beasleigh says. “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 expected to be one of the fastest growing areas in 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,” Beasleigh says.