Friday, October 14th, 2011
Twelve shops have been sold in the first 5 days since the launch of Queens Lane, a development of 42 shops at 396 Queen Street.

“At a standing room only launch of Queens Lane, buyers snapped up shops in New Zealand’s most exciting new retail development” said Millie Liang of Bayleys Real Estate.

The 12 shops include a mix of street frontage and shops in the Lane within an international quality arcade of 20 luxurious shops. The Lane features rich arabescato marble floors and macassar ebony walls which bring international design standards to Queen Street retailing.

The Queens Lane development is being marketed by Millie Liang and James Chan of Bayleys Auckland office.

“Comprising a total of 42 retail shops, the $50 million Queens Lane redevelopment will revitalize the corner of Queen St and Mayoral Drive into a modern luxury shopping destination providing a magnet to over 10,500 people that pass the property each weekday on average” says James Chan.

The highly prized 100 metres of prime street frontage embracing Queen Street and Mayoral Drive has been carefully designed to provide 22 shops with street frontage and an opportunity to secure a wide shop front, major signage exposure and total flexibility of business use and opening hours.

Millie Liang says the 20 shops within the Lane at Queens Lane have been specifically designed to provide a luxurious boutique retail environment providing a variety of food, fashion and luxury goods.

Further enhancing the world class standards set for Queens Lane, a state of the art, temperature controlled environment will be created to provide a relaxing shopping experience, safe from Auckland’s inclement weather.

“Queens Lane will benefit from massive exposure to traffic and pedestrians and command an enviable presence in the heart of Auckland's civic, entertainment, art, theater and residential precinct” says Millie Liang.

Millie Liang says, the exterior of Queens Lane has been totally redesigned to stand the test of time and will be clad in white marble and back lit opaque glass panels providing a quality shopping destination to the ever increasing customer base of over 60,000 university students, 24,000 apartments, numerous international educational facilities, the Town Hall, Q Theatre, Aotea Centre, Imax, Event Cinemas, Public Library, universities, apartment residents and visitors to Auckland.

Planned to open in early 2013, the 42 shops can be secured on a low deposit and are being sold on a freehold unit title basis with prices ranging from an affordable $195,000 to $835,000, with projected rental returns of between 7% and 12% when leased.

Westpac Banking Corporation has announced they will provide 60% finance to qualifying investors purchasing shops in the up market Queens Lane development, said Wayne Gibbens the Head of Property Finance at Westpac.

A unique and important feature of each shop’s design and construction is the inclusion of 3 phase power, water, drainage, access to grease trap and ventilation /extractor ducting. This provides long term flexibility for any business use the owner may choose.

The shops come complete with marble floors, ceilings and lighting.

Retained for their expertise, Retail Consulting Group has been appointed building and body corporate managers and has provided rental, end value and outgoing projections for prospective investors.

William Li of Bayleys Property Services Limited announced that in a Bayleys first, Queens Lane investors are being offered a fully managed professional investment service to lease and manage their retail shops on a long term basis.

This opportunity provides purchasers with a no hassle option to have their shop managed in a timely and orderly manner to maximize rental income and long term capital gain.

Considerable time has been spent evaluating design concepts to ensure that Queens Lane provides a shopping experience that will set a benchmark for retailing in Auckland.

Queens Lane carries on over 100 years of proven value growth on Queen Street, New Zealand’s premier shopping street which continues to enjoy the high occupancy and strong rental growth. Auckland’s strong population is projected to double and reach 2.3 million by 2051.

Auckland Council has recently invested over $100 million in transforming and creating the precinct into a safe, modern family friendly environment with feature trees, new paving, seating, grassed terraces and ambient lighting.Queens Lane is part of the evolution of Auckland into a well planned international city.

Millie Liang says the redevelopment of this prime location in the centre of Auckland is the result of Greg Rathbun and Bruce Sheppard, of Gilligan Sheppard, providing an opportunity for investors to pool their resources, expertise and vision to revitalize the 19 level retail and office tower on one of the city’s most visible street intersections.

Bruce Sheppard is a well known and inspirational shareholders advocate and founder and force behind the formation of the New Zealand Shareholders Association.

Recently the New Zealand Government, on establishing the Financial Markets Advisory Board (FMA) appointed Bruce Sheppard as a Board member to assist in restoring confidence to investors in the financial markets by actively and consistently enforcing New Zealand’s financial laws, says Millie Liang.

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Contact Profile

Millie Liang

Millie Liang

Millie Liang joined Bayleys in September 2010, having built an extensive network of buyers and vendors during her eight years as a commercial sales and leasing broker in Auckland.

With the strength of the Bayleys brand behind her, Millie has continued to achieve outstanding sales and leasing results.

A fluency in both the spoken and written English, Mandarin and Cantonese has proved invaluable in assisting Millie provide solutions in meeting the requirements of her vendors, investor and tenant clients.

Millie specializes in the full spectrum of commercial sales & leasing in Aucklands CBD and fringe areas.

Millie works to provide solutions for her clients, ranging from leasing vacant space, sale of existing buildings, off the plan sell down of new developments and refurbishment projects, ranging from small to large retailer and office owner / tenants specialising in clothing, fashion accessories, computer/electronics, health and beauty, Asian supermarkets, tertiary education, food & entertainment hospitality and professional firms.

Notable transactions since joining Bayleys:

$22.4 million (sales to date), in off the plan sell down, of 60 freehold unit title retail / foodcourt shops in new development at “Queens Court”, 370 Queen St

$3.8 million sale of a four-level commercial building in Hobson Street. 2 levels added as serviced apartments and penthouse. Ground floor redesigned by Millie into retail space and leased to supermarket.

$2.7 million sale by auction, of 7 level retail & office building at 10 High St at approx yield of 5.6%
Current Projects of Significance:

Sale of freehold unit title, retail shops and office leasing in $50 million redevelopment at “Queens Lane”, 396 Queen St.

Sale of freehold unit title, retail shops and office leasing in 5 level new development at “St Albans on Eden”, 433 Dominion Rd, Mt Eden.

Sale of freehold unit title retail /foodcourt shops at “Rialto”, Broadway, Newmarket.

Leasing of retail / foodcourt shops and offices in redevelopment at “Food Republic”, 350 Queen St.

Leasing of 90 retail / foodcourt shops in redevelopment at “Queens Market” (Mid City Complex), 239 Queen Street.

If the current selection of properties on for sale or lease doesn’t meet your investment or leasing requirements, ask Millie about properties in the process of being listed, available shortly or that owners prefer not to advertise publicly.

Millie Liang
P: +64 21 968 128


Auckland, New Zealand, Millie Liang, Commercial Real Estate Auckland.Bayleys.Queens Lane.396 Queen Street. Commercial Property.Property For Sale.



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