Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Eatery Options On The Menu As New Food Hub Premises Comes Up For Sale Or Lease

A portfolio of food and beverage sites within a purpose-built eating hub in a fast-emerging Auckland commercial and retail precinct have been placed on the market for sale or lease.

The under-construction premises – to be known as The Radiance Centre - at 8 Oracle Drive in Albany on the North Shore consists of a 2,457-square metre dual-level complex containing up to 16 individual food and beverage outlets.

Unit titled outlets within The Radiance Centre will range in size from 69 square metres up to 153 square metres and are being offered for sale or lease, with the potential to be negotiated either individually or as combined titles to create bigger floor plans if needed. All sites are being designed and built exclusively as food and beverage operations.

The Radiance Centre food hub is located in Albany’s rapidly growing Orchard Park business precinct which sits immediately to the south of the area’s more retail-focused activities.

The Orchard Park commercial precinct is home to a wide range of national and international retail and commercial tenants - including Westpac bank’s administrative headquarters, North Shore District Court, law firm McVeagh Fleming, Kids Cove Childcare Centre, Mitre 10’s head office, the New Zealand offices of science and medical systems manufacturer Olympus, gaming machine trust operator The Lion Foundation, the base for logistics and freight forwarding operator Peter Baker Transport (PBT), Oracle Business Centre, and ASB bank’s data centre.

The 16 Radiance Centre food and beverage units at 8 Oracle Drive are being marketed for sale or lease by expressions of interest through Bayleys North Shore, with the process closing on September 17. Salespeople Steven Liu, Eddie Zhong and Daniel Henderson said the sites were suitable for sustaining both stand-alone foodservice operations or nationally branded food outlets.

Five sites are located around the carpark on The Radiance Centre’s lower level, with the remaining 11 sites on the upper level.

“The intention is to populate The Radiance Centre with a complementary tenancy mix encompassing a menu of local and international cuisines. From that perspective, there is room for operators serving European, North American, South American, Asian, Middle Eastern, and New Zealand cuisines,” said Liu.

“Of course, there is the potential for a licensed beverage operator to open and run a bar within the Radiance Centre. Currently there are no such licensed bar style venues in the immediate vicinity – so any new such offering would have a complete point of difference.

“The target clientele for food and beverage customers is very much the surrounding corporate sector, visitors to the retail premises at both Corinthian Retail Hub and Orchard Park, and parents of children attending the nearby childcare facility.

“Consequently, food and beverage tenants within The Radiance Centre are likely to be open first thing in the morning until early evening. All but two of the spaces for sale or lease will have outside deck areas – some with views onto Oracle Drive, and others with an outlook over William Laurie Place.”

Zhong said the roading grid structure of the Orchard Park neighbourhood around The Radiance Centre allowed for a good degree of connectivity, albeit the commercial nature of the Oracle Drive location made it largely a car-borne destination.

“To ensure clientele from within the greater Albany Basin are attracted to The Radiance Centre, 51 car parking sites have been allocated for customer parking. The mix of covered and open parking spaces will have two access/exit points,” he said.

“Additionally, a substantial foot traffic customer base is forecast to come from parents dropping off and picking up their children from the nearby daycare facilities – allowing for potentially two foodservice retail experiences daily from the breakfast, morning tea, lunch or afternoon tea service periods.”

Henderson said the property at 8 Oracle Drive was zoned Business – Business Park under the Auckland City Council Plan, and that a body corporate structure was currently being established to manage The Radiance Centre on completion.

He said unit titles such as those being promoted for sale or lease within The Radiance Centre were a common form of multi-unit commercial property ownership – allowing for a large premises to be jointly owned in conjunction with other similar business operators.

“There is the opportunity for units within The Radiance Centre to be purchased by either owner-operators looking to make their first foray into the food and beverage sector, or for businesses to add a new location to their existing foodservice sites elsewhere in the city.” Henderson said.

Image caption: Artist’s impression of the under-construction premises The Radiance Centre at 8 Oracle Drive, Albany on Auckland’s North Shore.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>


Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>


MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>


Mediaworks: Reaches Agreement To Sell TV Operations To Discovery, Inc.

New Zealand’s largest independent commercial broadcaster MediaWorks and the global leader of real-life entertainment Discovery Inc. (“Discovery”) are pleased to announce they have reached a binding agreement regarding the sale of MediaWorks’ ... More>>


Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>


NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>


Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>


SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>


FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>