Prime retail site misses Rugby World Cup trading

The Endeans Building was finished in 1915 and fronts on to Queen, Quay and Tyler Streets. Photo / Supplied

Heritage retail space is standing empty in Party Central, the gateway to Auckland's fan trail and its transport hub.

Vast retail areas in the ground floor of the historic Endeans Building on the waterfront are only now advertising to lure tenants as Rugby World Cup fans flock to the city's CBD.

But leasing and fitout timetables will probably mean the shops won't open until well after the final try is scored at Eden Park.

New shops like the nearby McDonald's on Queen Elizabeth II Square and Dick Smith Electronics opposite at 21 Queen St are packing in the customers in the zone between the waterfront and Customs St.

The fan trail leads right past Endeans: the empty shops at 2 Queen St are on the corner of Queen and Quay Sts in a gateway position to Queens Wharf and the cruise ship catchment, the downtown ferry terminal, alongside the Britomart Transport Centre and a short stroll away from the Viaduct Basin.

A property specialist cites a series of reasons for the real estate blunder.

Agnes Teh, the Barfoot & Thompson leasing agent of the retail space, said prospective occupants would be long-term and would not rent just to capitalise on tournament fans. Nor would souvenir-style shops be targets, she said, citing European brands selling high-end fashion labels and apparel.

The reason the shop areas were only being leased now, and not months ago ready for the cup, was partly due to a dispute between apartment owners on the upper levels of the building and the owner of the ground-floor area, she said.

The landlord had sought to remove an unsightly verandah and wanted to refurbish the retail areas, but Auckland Council rejected the proposal then changed its mind and gave consent, she said.

Apartment owners worried about what they saw as a decrepit, unsafe and highly visible awning above the footpath outside their heritage building. The Historic Places Trust gave consent for a new awning in 2006 but wanted the former canopy restored.

Agnes Teh said shops of 45sq m, 200sq m or 300sq m were now available and the landlord hoped to get more than $2000/sq m annual rent.

The Endeans Building was completed in 1915 and designed by architects Chilwell & Trevithick. It has multiple ownership: titles to 30 apartments are in a strata arrangement and QV shows the ground-floor retail area is owned by CBD Investments (NZ).

The building's website says there are 30 units in the building, most apartments, but six are set up for businesses or office space.