Hutcheson says there is usually a queue of tenants for village retail shops that occasionally become vacant. "Mt Eden Village can't expand and there are no new developments planned, so we are not surprised at the strong expressions of interest."
Hutcheson says Davies Properties would prefer one tenant that could either set up business across the entire building or take the head lease and split the space into various tenancies and sub-lease them.
"However while Davies Properties is reluctant about the prospect, it will consider separate leases for each floor or individual tenancies, but these will be based strictly on the strength of the tenant's business and rental levels."
Hutcheson says the 273sq m ground level of the new building can be split into four retail tenancies. "It is flexible for retail either as one large shop or it can be configured to suit the requirements of several tenants. The 267sq m top floor is ideal for offices or professional rooms.
"The premises lend themselves for use by high-profile professionals looking for a landmark building that will reflect their brand."
Hutcheson says retailers and professional tenants couldn't get a better Mt Eden address. "The property, on a high-profile north-facing corner site, is at the beginning of an important group of heritage buildings strung together along Mt Eden Rd."
Resource consent for the new building was not easy to obtain. Davies Properties and architect Philip Jones of Jones Architects spent three years on the project. The firm specialises in inner-city suburbs and the retail areas of Mt Eden, Ponsonby and Herne Bay.
Jones and Davies' first proposal for the new Mt Eden Village property was a three-storey building with a basement carpark for five vehicles. "It was going to be contentious with neighbours who were concerned about the months of vibrations, noise and dust they would endure while the basalt rock site was excavated for the carpark," says Jones.
Relief came in the form of the former Auckland Regional Council asking Davies Properties to take out the basement carpark because it was on a busy corner and exiting would be dangerous. Following discussions with the urban-design panel the building was reduced to two levels.
Construction is planned for March or April next year depending on pre-commitment.
Davies said his company sat on the property for several years because it had good tenants and cash flow. But now is the time for redevelopment as there is nothing coming on to the market, construction rates are competitive and interest rates are low.
Jones says the continuous retail space will have a concrete floor, a stud height of 4m and a polished concrete back wall. Tall shop-front windows will be set between rusticated columns. Doors into each tenancy will be recessed so there is maximum shopfront display area.
Jones says the urban-design panel encouraged Davies Properties to have a strongly modelled parapet with a pierced cornice.
"Our material choices are consistent with the Mt Eden vernacular. We believe this building will fit well into the historic character of Mt Eden Village."
Davies says the property will have low energy consumption, high-quality ventilation and air-conditioning, and there will be a lift between floors.
There will be a landscaped 40sq m entrance courtyard at the rear of the property and also a common lobby for deliveries to retail and professional tenants.
This feature will move trucks and vans away from Mt Eden Rd.
