Retail units available in refurbished Canterbury

Five retail units in the recently renovated and refurbished Canterbury Arcade in central Auckland are now available for rent.

The ground floor units range in size from 37.6 square metres to 75.6 square metres, with rental ranging from $25,000 to $35,000 plus GST per annum.

All units have been fully refurbished to a high standard, with granite flooring and floor to ceiling glass windows.

Each retail unit features dual accessibility from 170 Queen Street and 47 High Street, which has one of the highest pedestrian foot traffic counts in the fashion precinct.

Existing tenants include well-known high street brands Hallensteins, Stirling Sports, fashion designer Kate Sylvester and fast-food franchise Oporto.

Other tenants include a foreign exchange centre, fashion outlets, a tailor, shoe stores and Asian restaurants.

The upstairs offices are occupied by a variety of professional firms including lawyers, architects, financial and translation services, jewelers and art dealers.

The units are being marketed by Bayleys. Commercial salesperson Millie Liang said the longevity of tenants such as Pat Menzies Shoes - which has been a tenant in Canterbury Arcade for more than 40 years - would attract prospective tenants.

She said: “This building has an extensive history behind it and brings with it not only big brand tenants, but loyal tenants with loyal clientele.

“Any business joining the arcade is likely to benefit from not only the existing customer loyalty, but also the considerable foot traffic which is generated through the arcade by the major high street brands.”

Ms Liang said the units would suit a variety of retailers from fashion or café/coffee store/deli through to a hairdressing salon.

She said: “There are not many retail unit options in this size bracket and price bracket for prospective tenants to choose from. These five units have become available at an opportune time and are in a very accessible and popular location on Queen Street. There is just nothing like this in the area.”

The renovation of Canterbury Arcade, carried out by The Ranchhod Group and Sipka Holdings, has been two years in the making, with seven units completed in the final stage. Two units were pre-released and have been tenanted.

Ranchhod Group’s managing director, Mahesh Ranchhod, said the remaining five units were all set to be customised by the new tenants.

He said: “We’re flexible in that if a tenant wishes to take on two or three of the units and combine the space we can accommodate this, opening up the total available floor area to more than 100 square metres.”

“All tenants are treated like customers instead of tenants throughout the Ranchhod and Sipka Group,” he said.

Mr Ranchhod said each unit included piping for air conditioning, should the tenant wish to install it, as well as plumping and drainage and new lighting systems.