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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
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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