Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New suburban precinct set to reshape Nelson sectors

New suburban precinct set to reshape Nelson’s shopping and office sectors

Richmond’s retail and commercial property scene is poised to undergo one of the biggest single developments in the region’s history – with plans unveiled for a new bulk retail precinct on the Richmond township fringe.

The 5.5 hectare development at Richmond will be to the west of the city on land currently owned by McShanes Holding Limited. The block has been farmed for dairy and more recently berry production by the Field family, Alan, Peter and Phillip Field.

The project is being facilitated by Graeme Dick, a local property developer who has had long term involvement in this region. The retail park will feature some 13 new premises ranging in size from 500 square metres through to 5000 square metres for larger ‘bulk retail’ operators.

The new precinct – named Field Junction Retail Park - is being sold and leased through Bayleys Nelson. Project sales leader Iain MacFadyen said the property is being marketed through three different options – either purchasing the entire 5.5 hectares with potential to have a controlling interest in the development, expressions of interest to purchase selected parcels within the development, or to secure a lease on completion of space within the bulk retail complex.

Mr. MacFadyen said this comprehensive development is set to be a cornerstone of the Richmond West Development Plan to accommodate the expansive growth of the region. The concept plans of the complex aim to include parking for 547 vehicles.

‘Zones’ within the Field Junction Retail Park site have already been defined into several complimentary sections – encompassing bulk retail, hardware, homeware, furniture, clothing and accessories as well as cafes and a restaurant.

“Tenancies targeted for the precinct feature most of the big-name chains in New Zealand,” Mr MacFadyen said.

He said there was nothing else like the Field Junction Retail Park precinct or opportunity in the region.

“This initiative on a main arterial route offers exceptional opportunity for astute investors,

developers, syndicates or large commercial enterprise. Field Junction Retail Park will dramatically alter how residents in the city shop and work.”

“New Zealand’s retailing has seen several development and geographic trends over the past decade – from the emergence of ‘big box’ retailing hubs attracting the likes of Farmers, Harvey Norman, Noel Leeming and supermarket chains,” Mr MacFadyen said.

“This concept is modeled on the Tower Junction Retail Mega Park in Addington, Christchurch, which hosts a diverse range of retail establishments such as Baby City, Bivouac Outdoor, Toyworld, Bed Bath and Beyond, Speights Ale House, and Bunnings.


“From this retail core, social amenities are bolted on – which is where town planners commonly see the likes of, pharmacies, gymnasiums, and entertainment zones come into their own.

“Meanwhile, the surrounding commercial spaces will be targeted at businesses in the agri’ sales and service sector whose clientele come from the wider Nelson bays rural region.”

Mr MacFadyen expected Field Junction Retail Park to become a focal point as a bulk retail convenience hub for the population living not only in Richmond’s existing metropolitan boundaries, but also pulling in a customer base from greater Nelson and bays area.

Recognised food and beverage operations which are nationally interested in siting in this form of complex could include the likes of Burger King, Wendy’s, Burger Fuel, Nando’s, Hell Pizza, Oporto, Columbus, Esquires, Robert Harris, or Baker’s Delight.

“The strategy for suburban convenience retail hubs is to lease to complimentary businesses in what is known as a ‘jig-saw’ model where individual pieces fit together to create a bigger picture,” he said.

“Concept plans are underway toward a business park to the west and south of the bulk retail park as well as a large residential subdivision immediately adjacent to the east which could see as many as 500 sections.

“This split configuration of bulk retail and business / commercial tenancies and residential growth could underpin a seven-day-a-week business model – catering to office workers as well as the shopping-based audience.

“Due to a lack of land availability since the early 2000s, there has been a ‘log jam’ effect for the development of commercial, Retail and Light Industrial premises around Richmond’s city fringe. With the Richmond West Development Plan now deemed operative, that ‘log jam’ is showing signs of bursting to service the forecast population growth in the region through to 2050,” Mr MacFadyen said.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news