What Smales Farm does

Smales Farm is a privately held, family-owned property development and management company operated through Northcote Rd1 Holdings LTD, based in Takapuna, Auckland, New Zealand. Founded in 1879, the original working farm has been transformed over more than a century into a 10-hectare mixed-use commercial campus comprising multiple purpose-built buildings including Building One, Aon House, Q4, and B:HIVE. The campus is built around long-term commercial office tenancies with named government and enterprise tenants including Inland Revenue, Health NZ, One NZ, Beef + Lamb NZ, Forsyth Barr, Penguin Random House, Springer Nature, and NZTA, with co-located sub-brands — B:HIVE (flexible co-working), Smales Farm Fitness (gym membership at $55.50/month), Goodside (hospitality), and The Market Collaborative (farmers' market) — supplementing the core rent roll.

The business generates revenue through four distinct streams: commercial property leasing (the primary income source), fitness memberships, event space rental, and farmer's market vendor fees. The campus infrastructure is modern relative to typical Auckland stock, with a NABERS 4.5 sustainability rating, seismic certification, 2,000 carparks, and direct access to the Northern Express bus station. Operationally, Smales Farm is a traditional property landlord: it has no technology platform, no mobile app, no API, and no disclosed AI, data, or software product. All expansion and product development is occurring on-site at the Takapuna campus rather than through geographic footprint expansion, M&A, or digital channels. The company is privately held by the Smale family with no public funding rounds, no equity capital markets activity, and no disclosed M&A history.

The customer base is anchored by long-duration government and large-enterprise leases, providing revenue predictability and low churn, but creating concentration exposure to a small number of large tenants. The diversified sub-brands (fitness, co-working, market, hospitality) reduce reliance on pure office rent and provide some volume-based revenue from small business tenants and individual consumers, but the rent roll from the anchor tenants is the single most significant driver of overall revenue performance.

Name

Smales Farm

Legal name

Northcote Rd1 Holdings LTD

Website

https://smalesfarm.co.nz

Company type

Private

Founded year

1879

Operating status

Operating

Headcount range

11–50 employees

Short description

Smales Farm is a privately held family-owned property company operating a 10-hectare mixed-use commercial campus in Takapuna, Auckland, combining offices, flexible co-working, fitness, hospitality, and a farmers' market for government, enterprise, and SMB tenants.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

Services-Facilities Support Management Services (8744)

akta.pro primary industry

Mixed-Use Community Association Management (BPAJAHAF)

akta.pro secondary industry

Hybrid Work Enablement & Desk/Room Booking Operations (BPABAFAH)

Keywords

• Commercial office leasing
• Flexible workspace solutions
• Mixed-use campus development
• Event venue rental
• Fitness facility membership

Headquarters

HQ city

Takapuna

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Commercial Office Leasing: Rental income from leasing office spaces in multiple buildings (Building One, Aon House, Q4, B:HIVE) to businesses ranging from startups to established organizations. Spaces range from dedicated desks to full floors up to 1,500sqm.
2. Fitness Center Memberships: Monthly gym memberships at $55.50 per month with flexible cancellation options. Personal training services also offered.
3. Event Space Rental: Conference and event spaces available for hire including auditorium, boardrooms, seminar rooms, and B:HIVE B:AR bar venue.
4. Market Vendor Fees: Sunday markets and Auckland Plant Market events generate revenue through stall holder fees charged to vendors.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Smales Fund leases commercial office space across multiple buildings (Building One, Q4 Building, AON House) and provides flexible workspace through B:HIVE on a 10-hectare mixed-use campus in Takapuna, Auckland. The offering ranges from dedicated desks and private offices to full floors up to 1,500sqm, supported by event spaces, fitness facilities, hospitality venues, and community markets as part of an integrated workplace ecosystem.

Product overview

Smales Farm is a 10-hectare mixed-use commercial development on Auckland's North Shore offering a portfolio of commercial real estate products and lifestyle amenities. The core offering consists of flexible office solutions (B:HIVE shared workspace) and traditional office leasing (Building One, Q4 Building, AON House), complemented by event/conference facilities, fitness services (gym and Pilates), and community programming (Sunday Markets, Auckland Plant Market). The hospitality precinct (Goodside) provides dining options for tenants and visitors. The B:HIVE building serves as the central hub combining flexible workspace with event spaces, while the other office buildings offer varying configurations for established organizations.

Differentiator

Problem solved

Functional benefit

Brands

• B:HIVE: Flexible workspace and office solutions offering private offices in a shared community environment with furniture, power, security, internet, cleaning, and concierge services included.
• Smales Farm Fitness
• Goodside
• The Market Collaborative

Products and services

• Building One Premium office space in a fully refurbished smart building featuring two 6-level mirrored towers connected by a central glazed atrium. Currently leased to One NZ with NLA of 1,500sqm available. Targeted at enterprises seeking premium office space on Auckland's North Shore.
• Q4 Building Distinctive office building with two office levels (725 or 871sqm), ground-floor retail, and basement car parking. Features cider-colored exterior, high floor-to-ceiling heights, and an open atrium with central staircase. Targeted at businesses seeking contemporary office space on Auckland's North Shore.
• AON House Four-level office building with curved entrance, end-of-trip facilities, and raised access floor system. Offers flexible tenancy solutions from 264-800sqm with 4.5 Star NABERS rating and 80% NBS seismic rating. Targeted at businesses seeking flexible, sustainable office space on Auckland's North Shore.
• B:HIVE Building (Flexible Workspace) Flexible office and desk options in a shared community environment. Offers private offices and dedicated desks with rent including furniture, power, security, internet, cleaning, concierge services, and access to shared amenities. Targeted at businesses seeking flexible workspace on Auckland's North Shore.
• B:HIVE Event Spaces Conference and meeting spaces on the ground floor of B:HIVE, including auditorium (up to 350 cocktail), board rooms, seminar rooms, and B:AR bar venue. Equipped with 86 inch LG touch screens, video conferencing, and high-speed Wi-Fi. Targeted at corporate clients and community organizers seeking equipped event venues with modern AV and transport accessibility.
• Smales Farm Fitness (Gym) 24/7 exclusive gym for Smales Farm residents featuring Life Fitness equipment including cardio machines, pin-loaded strength equipment, free weights area, and HD Athletic Rig. Membership at $55.50/month with no fixed term and flexible cancellation. Targeted at employees of Smales Farm tenant companies seeking convenient on-site fitness with 24/7 access.

Quantifiable outcome

• 10 hectare integrated campus
• +1 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• The Market CollaborativecoreChannel Partner/ Reseller/ DistributorThird-party operator that curates and delivers Sunday Markets on the second Sunday of each month and seasonal Plant Markets with around 100 vendors. Handles all market planning, stallholder selection, bookings, and operations.
• Reform PilatesminorChannel Partner/ Reseller/ DistributorLocated on the ground floor of B:HIVE, Reform Pilates offers dynamic reformer exercise classes catering for personal fitness, sport specific training, injury prevention/rehabilitation, and group or individual sessions.
• Cityhop Car ShareminorGTM or Marketing PartnerCar sharing service with vehicles located at Goodside carpark entrance, providing transportation option for Smales Farm visitors and employees.
• Auckland TransportcoreStrategic or Co-development PartnerSmales Farm Bus Station is a key transport hub forming part of the Northern Express route, providing fast connections via the Northern Busway to Silverdale, Britomart, and across the North Shore.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Mirvac Group: ASX-listed Australian diversified property developer with office, retail, and mixed-use master-planned communities. Broader regional incumbent with deep development expertise and capital access — relevant peer for amenitized mixed-use campus strategy in the Australasian market.
• Dexus: ASX-listed Australian commercial office REIT managing prime CBD office portfolios. Broader Australasian incumbent providing a benchmark for premium office asset management, tenant engagement, and sustainability positioning (NABERS-rated stock).

Direct peers

• IWG plc: Global flexible workspace operator (Regus, Spaces, HQ, Signature). Direct comparable to B:HIVE's all-inclusive flexible office model, providing a global benchmark for the flex workspace revenue stream within Smales Farm.
• Goodman Property Trust: NZ NZX-listed property trust owning Highbrook Business Park and other Auckland commercial/industrial assets. Comparable as a NZ commercial property landlord with focus on quality, well-located business park-style campuses.
• Argosy Property: NZ NZX-listed commercial property investor focused on Auckland and Wellington office and industrial assets. Direct peer for Auckland commercial office leasing with similar tenant mix exposure to government and corporate tenants.
• Stride Property Group: NZ NZX-listed property investor (formerly Stride Investment Management) with diversified NZ office and retail portfolio. Comparable as a NZ commercial property operator with multiple-asset exposure across geographies.
• Precinct Properties New Zealand: NZ's largest premium CBD office landlord (Commercial Bay, AMP Tower, ANZ Centre). Direct competitor in the Auckland commercial office market with similar focus on high-quality, amenitized, transport-connected office assets.
• Britomart Group: Auckland CBD waterfront mixed-use heritage precinct combining premium office, retail, hospitality, and event spaces. Operated by Cooper and Company as an integrated destination — the closest NZ analog to Smales Farm's mixed-use campus model with similar heritage character and amenity mix.
• Kiwi Property Group: NZ-listed diversified property company owning Sylvia Park and other large-format mixed-use assets. Comparable as a NZ operator of integrated commercial/retail/hospitality destinations with anchor tenant strategies.

Emerging players

• WeWork: Global flexible workspace operator (post-restructuring, NYSE-listed). Closest large-scale global competitor to B:HIVE's flexible offering, though currently in recovery phase following 2023 bankruptcy — provides a benchmark for flex workspace unit economics and scaling challenges.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/smalesfarm
• LinkedInlinkedin.com/company/smales-farm-management

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Smales Farm