This large industrial land holding of 2.207ha on the corner of Astley Ave and Clark St, New Lynn was identified as potential “change of use” property as a consequence of the extensive infrastructure investment already made by Auckland Council in the area and the rapidly changing nature of the surrounding businesses.
In March 2012, the property was purchased from the incumbent owner occupier, Huhtamaki Flexible Packaging by Location in a structured settlement that allowed Huhtamaki to dis establish themselves from this historical manufacturing site. The improvements contained a mix of older 1930’s saw tooth warehouse structures together with a recently constructed, high stud warehouse which had been built in a position on the site that could be utilised with a change of use.
The property’s main road location, visibility and proximity to existing retail occupiers offered the opportunity to change its use from industrial to retail, assisted by its scarcity value.
Location’s concept was to secure a larger retail anchor for the rear, using the existing high stud warehouse together with a smaller unit retail development producing a “face” to the main road.
In the course of promoting a number of alternative retail configurations, Location entered into discussions with Mitre 10 NZ Ltd as a potential tenant for some, and then eventually all of the site.
Eventually, Mitre 10 determined the best way forward for them was to control the entire site, which culminated in them purchasing the entire property from Location in September in an “as is” state; and taking over the development process themselves.