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Anchor Tenant Sought for Café in Opua Marina Development

Anchor tenant sought for new marina development café

July 2017 - A new hospitality venue at the Bay of Islands end of New Zealand’s latest cycling trail - and overlooking one of the country’s newest marina developments - has been placed on the market for lease.

The 200 square metre site at the Bay of Islands Marina in Opua, Northland, is at the eastern tip of the recently opened Twin Coast cycleway which runs through to Horeke in the Hokianga.

The Opua land and buildings are owned by Far North Holdings Limited - the commercial operations and business development subsidiary of the Far North District Council.

Rental for the Opua waterfront premises has been set at $260 per square metre – with no additional rental for either the 100 square metres of alfresco customer seating outside the front of the building, nor for the eight car parks associated with the property’s commercial use.

Leasing of the space is being jointly undertake by Irene Bremner of Bayleys Paihia and Nelson Patchett of Bayleys Auckland. The two-storey premises – with three separate apartments on the upper level and café/retail on the ground floor - is positioned immediately opposite the Opua Marina, stage two of which opened earlier this year.

Ms Bremner said that the operational expenses of this ‘new build’ would be lower than those associated with older style premises and that the property meets all the new building standards.

“As an additional tenant incentive, the Far North Holdings Limited is offering a three month rent-free period while the internal fit-out work is undertaken,” she said.

Ms Bremner said the new venue would benefit considerably from the 173 berth extension of Opua Marina - which has increased mooring space to now accommodate up to 423 vessels.

In a report commissioned for marina developer Far North Holdings Limited, economic research consultancy Market Economic calculated that the expanded berthing facility would create up to 70 full time jobs.

The report said the marina’s wider economic benefit would be worth in the region of $23 million annually after the initial five-year establishment period.

Far North Holdings Limited chairman Ross Blackman said: “The maritime estate at Opua has already fostered the establishment of 63 commercial businesses employing 250 people. Extending the marina will strengthen these businesses and create opportunities for growth.”

Mr Patchett said the new food and beverage operation available for lease on the Opua seafront hub would capitalise from the Marina’s next phase – with a growing number of boat owners taking possession of their moorings.

“Obviously with a substantial number of new moorings being populated, a savvy food and beverage or hospitality operator would look at establishing a providor catering service – thereby effectively doubling revenue streams by offering on and off premise options,” Mr Patchett said.

“That could be anything from sandwiches and packed lunches for day trips, through to menu-planned breakfast/lunch and dinner packs for up to a week on the water.”

Mr Patchett said a new café venue would also ‘book-end’ either the start or finish of the Twin Coast cycle trail which opened earlier this year.

“Depending on which way the two-day, 84 kilometre pedal was completed by cyclists, Opua is either at the start or end of journey,” he said.

“Those starting in the Bay of Islands would want a quality meal and a few drinks before commencing their ride the following day, and for those finishing their ride in Opua, it will be a place for celebrating the successful completion of the tour from the other direction.”

Mr Patchett said Opua was now joining Russell and Paihia in attracting foot traffic visitors off the international cruise ships now anchoring up in the Bay of Islands. Over the coming 2017/2018 season, some 63 large cruise liners are scheduled to call into the Bay of Islands – most on day-long stop-overs.


ENDS


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