Leasing

Why Lease at Shore City?

Shore City Shopping Centre offers a boutique retail experience in the heart of Takapuna, one of Auckland’s most affluent suburbs.

The Centre is situated at the North-Western edge of Takapuna CBD, only a 10 minute walk from the area’s main attraction, Takapuna Beach.

The Centre has three levels with a GLA of 14,922sqm, consisting of over 60 specialties, department store Farmers and New World supermarket (due to open in late 2019). It offers 826 car parks with three hours free parking for customers and features fast, free Wi-Fi.

Shore City includes a variety of iconic and international brands; Farmers, New World (opening late 2019), Les Mills, Country Road, Mi Piaci, Life Pharmacy and Cue to name a few.

Shore City Refresh

Precision Group purchased Shore City in June 2016 with the intention of enhancing the Centre to reflect its beachside location and deluxe offering.

Stage One of the works was completed at the end of 2017 and included the installation of fast, free WiFi, a carpark hardware upgrade and a complete revitalisation of the Centre’s common areas for an enhanced shopping experience. Some of the key features of the multi-million upgrade include:

Italian floor tiling throughout Level Two.
Timber accents throughout the Centre to reflect our beachside location.
New comfort zone furniture featuring the finest in New Zealand made seating and rugs.
Raised ceilings, feature lighting and paintwork to create a bright, light space.
‘Bagel’ lighting symbolising the “long white cloud” of Takapuna’s landscape.
A sea-themed interactive children’s zone with foam rockers, sensory panels and three touch screens.
Upgraded bathrooms with feature “wave” tiles, hands free appliances and non-slip tiling.
Playful, forest-themed parents' rooms.

In 2018, the exterior of the Centre was refreshed with increased retailer signage and lifestyle graphics to better promote the brands available within the Centre to passersby. Part of this project was to install two digital screens at the main entry for Centre and retailer promotions.

The refurbishment and complete reconfiguration of the Centre's food offering is currently underway. Tank Juice, Kyoto, Majestic Tea Bar and a new central dining area opened in 2018 and we recently welcomed The Lantern, a Chinese food offering into the centre earlier this year.

2019 has been off to a great start with a new escalator upgrade which has just been completed between Level One and Two to enhance the vertical transport within the Centre and a second customer lift has now been installed in the tower carpark in order to enhance accessibility into the centre.

We also welcome New World into our mix of retailers. The supermarket will open adjacent to the Food Dining area on Level One and has an anticipated opening date of late 2019.

Takapuna is home to 720 businesses with approximately 8,500 workers and another 3,300 residents. These numbers are forecast to grow to 15,000 workers and 15,000 residents by 2040 according to the Takapuna Strategic Framework, 2010.

Residential growth is already underway with 350 apartments set to be completed during 2019.

According to MarketView Quarterly Market Activity Report (For the 12 month period ending 30 June 2018), spending in Takapuna was up 2.6% on the previous year.

The Auckland City Centre Masterplan has nominated Takapuna as a key metropolitan centre paving the way for significant investment, growth and intensification in the area.

Panuku Development Auckland has plans to revitalise the town centre with parking for workers on the CBD fringe to remove congestion from the main retail areas, grow the connections between the beach, retail and parking areas and revitalise Hurstmere Road (the main street of Takapuna). With stage one planned to be delivered by the end of 2020.

Shore City Demographics

A report by Macroplan Dimasi in 2016 identified the Shore City Primary Sector population as 46,380 encompassing affluent suburbs; Takapuna, Milford, Belmont, Bayswater, Narrow Neck, Stanley Point and Devonport.

The Main Trade Area includes the Secondary North and Secondary West sectors of the North Shore for a total population of 108,500. Suburbs within the main trade area are considered higher value, more desirable suburbs of the North Shore with a greater spending capacity compared to other areas.

Key demographics of the Main Trade Area are:

Average age 38 years (Auckland average 35 years)
Average income $97,869 (Auckland average $90,880)
Housing Status 56.6% owner/purchaser (Auckland average (54.4%)
Family Type 31% Couple No Children (Auckland average 28.5%) and Lone Adult 23.7% (Auckland average 18.7%).