An artist's impression of the new Silverdale Mall, which is due to open near the end of this year. Photo / Supplied
A new multi-level shopping centre in fast-growing Silverdale, anchored by a Farmers' department store, is expected to attract strong interest from retailers interested in renting space.
Retail units and floor space at the new Silverdale Mall, which is due to open towards the end of 2017, are being marketed for lease by Colliers International retail national director Leroy Wolland and shopping centre management national director Richard James.
The enclosed centre is under construction at Millwater Parkway - a major feeder road to the main retail precincts of Silverdale, Orewa, and the Whangaparaoa Peninsula.
"Silverdale Mall will be home to a 6000sq m two-level, full-offer Farmers' department store, with an additional 3000sq m for about 30 speciality stores catering for fashion, food and beverage, homeware and personal service type retailers," says Wolland.
The mall will also be home to The Farmers Trading Company's sister brands including Whitcoulls, Pascoes, and Stevens.
Wolland says these well-known retail brands in conjunction with Farmers will contribute to the overall success of Silverdale Mall.
"We will be targeting a retail mix focusing on best-in-class fashion, homewares, service and food that will complete the overall shopping experience for the wider community."
James says the new development will solidify the precinct as the main retail hub for the wider area.
"We will be tapping into the retail demand that exists for the area due to the significant residential growth that has been seen over the last five-plus years. The Silverdale area has outperformed many other areas in terms of commercial growth and the residential activity has been immense.
"The quality of the catchment is enviable - underpinning the confidence we have, and reflecting the levels of unsolicited leasing interest we've already received."
James says the vision for Silverdale Mall captures the best in architectural design and ambience elements, and importantly, convenient parking.
"Construction began on the development last year, and its three street frontages have been designed to allow multiple points of vehicle and pedestrian access.
"The centre's main entrance will be from Polarity Lane, which faces the existing Silverdale Centre, and it will accommodate 415 undercover car parks over three lower levels. Comprehensive vertical transportation will give customers easy access between the retail and car park levels."
Several new major retailers have recently opened in the area including Pak'n Save and Bunnings.
The neighbouring Silverdale Centre is an outdoor shopping centre home to The Warehouse, Countdown, Noel Leeming, Supercheap Auto, Warehouse Stationery, ANZ and multiple other national brands. It was leased by Colliers International in 2012.
Wolland says these national retailers - many of them leaders in their category - understand the importance of having a presence in this key demographic.
"The development's catchment area - the former Rodney District - has experienced significant residential growth recently, making it one of the fastest growing catchments in the country.
"Silverdale is earmarked as the future commercial heart of the Hibiscus Coast, catering to a large forecast population growth. The primary catchment population is expected to grow even faster, with projections of 57 per cent growth between 2011 and 2031, when there are expected to be 140,000 people in the former Rodney area - a growth rate faster than the adjacent North Shore and the overall Auckland regions."
James says retail spending will also grow with the population. "Annual household expenditure is forecast to grow from $876n in 2011 to $1.2b by 2031 - representing more than 37 per cent growth."
The Millwater housing development, now well underway just to the northeast of the Silverdale Mall, comprises about 3000 sections that will house over 10,000 residents. Associated local development includes schools, medical centres and recreational facilities.
"The Millwater development, along with the expected population increases in the wider area, means the future for retailers here looks sound.
"The centre is ideally placed to meet the demands of a rapidly expanding population," says James.
"Recent considerable government expenditure on roading and infrastructure has effectively brought the Hibiscus Coast to within a 30-minute drive of the Auckland CBD. The State Highway 1 northern motorway is close by, as are the lifestyle and beaches of Orewa and the Whangaparaoa Peninsula."