St. Kevins Arcade
183 Karangahape Road, Auckland
St. Kevins Arcade is a 3,138.1m2 heritage building located on a large 1,250m2 freehold site comprised of a mix of food, retail and office tenancies overlooking Myers Park. Running through the arcade is a public access way from Karangahape Road through to Myers Park, which coupled with its unique Heritage, makes St. Kevins Arcade an important public asset. At time of purchase, St. Kevins Arcade was in need of restoration; and there was a great deal of potential to create a unified vision for tenancies whilst restoring the beautiful heritage building for generations to come. Lauded by Architectural Historian Edward Bennett as a project he wishes other developers would replicate, this restoration project sets a benchmark for historic arcades, multi-use buildings and shared spaces alike.
The project improved the WALT from 0.9 years in August 2015 to 3.4 years currently. It created new consented spaces to allow food outlets to operate, accommodating changing consumer behaviour, whilst curating a vibrant mix of other retailers to enjoy the higher rate of foot traffic.
With increased retail activity as a result of the overall vision for the project St. Kevins Arcade Heritage restoration project tells a story of achievement from all points of view, be it landlord, tenant, heritage advocates or the general public alike.
Cemac Commercial Interiors
Glamuzina Designs – Chris Smaill
ECS Electrical Consulting Services Ltd – Nick Topp
BGT Structures (Auckland) Ltd – Stuart George
Thurston Consulting Ltd – John Barker
Greenstone Group – Bradley Friar
Matthews & Matthews Architects Ltd – Jane Matthews
HSC Hydraulic Services Consulting Ltd – Peter Downey
Peter Paige Rennovations
Match Realty – James Kermode
- Received a Merit Award in the HAWKINS Heritage and Adaptive Reuses category at the 2017 Rider Levett Bucknall Property Awards
- $1.7m Heritage restoration & refurbishment project to rejuvenate the arcade
- Total return on capital outlay of 51.2% or an annualised return of 36.2% pa
- WALT increase from 0.9 years to 3.4