Two ground-floor retail investments in a popular mixed-use precinct, near Auckland’s medical mile, have been placed on the market for sale, offering secure income streams, high-profile positioning, and robust tenant covenants in one of the city’s most prestigious suburbs.

Bayleys Auckland commercial sales and leasing associate director, Millie Liang, is marketing the premises at G01, 10 and G01, 12 St Marks Road, for sale individually or together, by auction, scheduled for 11:00 am on Wednesday, 2nd July 2025 (unless sold prior).

Liang says the units, which were built in 2018, sit within the St Marks boutique complex, comprising luxury apartments, retail, and commercial spaces.

Together, the tenancies return a combined net rental income of circa $191,842.92 plus GST per annum, underpinned by long leases to established operators.

Unit G01, 10 St Marks Road comprises approximately 224sqm of ground floor retail space, together with two accessory units – courtyard areas of 15sqm and 14sqm – bringing the total area to more than 253sqm (more or less).

The property is currently leased to a well-known cosmetic and appearance medicine clinic, returning $111,557 net pa plus GST on a secure eight-year lease with two six-year renewal rights to 2037.

In a separate but adjacent building, Unit G01, 12 St Marks Road comprises approximately 112sqm of ground floor retail space, along with two accessory areas – an 11sqm courtyard and a nearly 10sqm utility room – bringing the total area to 133sqm (more or less). A popular eatery, SNÖ Café, occupies the unit.

The property returns $80,285 net per annum, plus GST, on a 12-year lease expiring in 2031, with two renewal options of six years each. The lease is supported by a rental bond, providing additional security for the landlord.

Liang says that both leases feature personal guarantees and fixed three percent annual rent increases, offering income security and strong rental growth prospects. “The investment-grade nature of the assets will appeal to experienced investors, family trusts, and syndicates seeking income resilience in a blue-chip location.”

“These are hands-free, low-risk investments in one of Auckland’s most desirable fringe suburbs, with the added flexibility of purchasing one or both tenancies depending on an investor’s strategic goals.

“Each unit is ideally positioned to benefit from ongoing investment in the area, and the increasing demand for amenity-rich, live-work-play environments that characterise modern mixed-use precincts.”

Liang says that being strategically located on St Marks Road, the location benefits from exceptional connectivity, with Newmarket Train Station and State Highway 1 just minutes away, providing straightforward commuter access.

“Nearby destinations include Westfield Newmarket, Auckland Domain, and Parnell Village, further elevating the precinct’s lifestyle appeal and the opportunity to capture attention from passing foot traffic.

“Remuera is synonymous with affluence and long-term capital stability,” Liang says. “With so few opportunities to acquire retail assets of this calibre in a tightly held pocket, we expect strong enquiry from buyers seeking secure, high-yielding investments in a location with enduring tenant demand.

“The subject properties stand out for their tenant strength, income growth and strategic positioning. They are a compelling opportunity to secure an income-generating foothold in one of Auckland’s most prestigious suburbs, whether as standalone assets or part of a diversified portfolio.”