Land and buildings within Matakanahospitaty hub

Media Release

9.9.2019

Land and buildings within Matakana recreational and hospitality hub placed up for sale

The hospitality and retail hub at the centre of one of the biggest multi-purpose recreational and tourism operations in the Greater Auckland region has been placed on the market for sale.

Matakana Country Park in the rural township of Matakana just north of Auckland is a 17.97 hectare site encompassing multiple food and beverage operations, tourism and leisure activities, a large outdoor event and concert-hosting venue, equestrian arena, and several boutique retail outlets.

Matakana Country Park was developed by entrepreneur John Baker in the early 2000s. The property sits at the axis route separating the affluent holiday-home enclave of Omaha Beach and its rustic beach and Department of Conservation park neighbour Tawharanui to the south.

Matakana Country Park was sold in late 2017 to commercial property developer Brendan Coghlan who is now upgrading the park with the objective of increasing tourist numbers to the site.

Mr Coughlan has placed the commercial component of Matakana Country Park on the market for sale in order to fund the extensive redevelopment and improvements to the surrounding infrastructure.

The land and rural-themed buildings at the core of Matakana Country Park, Lot 2 at 1151 Leigh Road, have now been placed on the market for sale at auction on September 18 through Bayleys in the North Commercial. Salesperson Henry Napier said the property at Lot 2 consisted of 1,010 square metres of buildings sitting on approximately 2,913 square metres of freehold land.

Mr Napier said the buildings on Lot 2 1151 Leigh Road were occupied by a mixed dynamic of six commercial businesses – generating a combined net rental of $172,998 per annum.

The tenancy list for the buildings within complex consists of:

• Eating and drinking establishments Stables Restaurant and Smiths Bar – on a single eight lease running through to 2023 with three further six-year rights of renewal, generating annual rental of $133,499 per annum

• An artisan crafts and artists co-operative display space known as the Craft Shop on a lease running through to 2021 with four further three-year rights of renewal , generating annual rental of $13,584

• A conference venue area on a lease running through to 2026, generating annual rental of $7,500

• Equestrian saddlery and bridal supplies shop The Tack Room on a lease running through to 2021, with three two-year rights of renewal generating annual rental of $5,200

• Body art studio Uptown Tattoo on a lease running through to 2022 with three further three-year rights of renewal , generating annual rental of $7,560

and

• Signage design and manufacturing firm The Simple Signman on a lease running through to 2022 with three further three-year rights of renewal, generating annual rental of $7,560.

Mr Napier said the businesses within Lot 2 benefitted from being part of a vertically integrated tourism and hospitality venue – servicing a broad range of target markets…. ranging from the local population utilising its food and beverage entities on a regular basis, through to visitors to the region accessing the retail outlets, and bookings from the substantial wedding and corporate markets.

“The park has been a major economic engine for the area – and the tenancies in the buildings for sale within Lot 2 have very much been part of the ‘engine room’ within that growth,” Mr Napier said.

“One of the key attractions of Matakana for many Aucklanders is the valley’s easy accessibility – being less than an hour’s drive from the harbor bridge on an average day. This makes the area a sought-after holiday home destination, and ideal for hosting the likes of weddings and corporate retreats – all of which are the domain of business in the property being marketed for sale.”

“The property is now poised to benefit from the redevelopment of the wider Matakana Country Park, currently underway – beginning with the chip-sealing of the shared carparking and internal roading network.”

ends

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