Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Hospitality & Services Mainstay of Hawke’s Bay CBDs

Hospitality and services mainstay of Hawke’s Bay CBDs

With the growing trend of online retailing and large format retail, Hawke’s Bay’s central business districts are increasingly relying on hospitality and service providers to draw customers and maintain vibrancy.

From its twice-yearly retail occupancy survey, property advisors and valuation firm, Logan Stone believes that tailored retail environments with strong elements of cafes, restaurants and the likes of banks, telecommunications providers, hairdressers and other services, was essential.

“People are shopping online more and more, and the large format retailers are utilising economic efficiencies and operate with lower margins, so it is continuing to make it a challenge for centrally-based retailers,” says Frank Spencer, Logan Stone director, who has been overseeing the survey for the past 14 years.

“Contemporary retail is all about convenience, with people now quite confident and willing to travel to shop, or purchase online to meet every day retail needs. However, coming into the central business district to eat or socialise or get their service needs met, is a major drawcard in the current environment.”

In Taradale and Havelock North, the service and hospitality sectors account for over half of the retail occupants (53 percent and 59 percent respectively). In Napier, these sectors equate to 34 percent, while in Hastings the breakdown shows 40 percent.

Mr Spencer noted that in three of the four retail core areas, occupancy rates are at the highest levels for several years and believes this was due to the economic surge Hawke’s Bay is enjoying at present.

Havelock North has the highest occupancy at 98 percent (its highest since August 2012), with Taradale at 94 percent (highest since August 2015). Napier has seen the largest increase over the past twelve months, sitting at 93.5 percent, and is at its highest level since February 2012.

Hastings retail core has seen occupancy trend downwards since its peak of 97 percent in February 2011, now sitting at 83 percent. However, Mr Spencer suggests this is beginning to slow.

He says that once completed, the new developments and refurbishments within Napier’s city retail core will likely attract national tenants and increase the retailing capacity within the area. He suggests that Napier’s occupancy rates are likely to remain steady for the next six months.

In Hastings, the current redevelopments will also attract tenants but these were likely be a high number of short-term lease arrangements resulting in ongoing changing tenants, he said.

Mr Spencer expects demand in Havelock North to remain strong with the Village Exchange development nearing full occupancy at the ground level. Taradale’s high percentage of hospitality outlets means it relies significantly on consumer discretionary spending to remain vibrant.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Big Spenders Are Not Our Tourism Salvation

Covid and climate change have been changing the face of tourism. That’s why it seemed oddly premature last week for Tourism Minister Stuart to announce that New Zealand isn’t interested in mass tourism any more, or in attracting the sort of budget visitors who “travel around our country on $10 a day eating two-minute noodles.” Instead, New Zealand aims to focus its marketing efforts on attracting wealthy, big spending tourists. “In terms of targeting our marketing spin,” Nash said, “it is unashamedly going to be at … High-quality tourists.” Really? The comments have raised a few eyebrows overseas, and a few hackles here at home. Nash’s comments have also been something of a gift to an Opposition adept at portraying the Ardern government as a bunch of liberal elitists out of touch with ordinary people...


National: The Heat Is On Tinetti As Strike Action Begins
The heat is on Internal Affairs Minister Jan Tinetti to front up and speak to firefighters as they prepare to take strike action today, National’s Fire and Emergency spokesperson Todd Muller says... More>>

National: Surgical Wait List Hits New Record
A new record has been set for New Zealanders waiting more than four months for surgery, National’s Health spokesperson Dr Shane Reti says... More>>

School Strike 4 Climate: Intergenerational Climate Strike On September 23rd
Once again School Strike for climate Ōtautahi (Christchurch) is asking all students to unite in a call to all council candidates to #voteclimate. Happening on Friday 23rd of September... More>>

Serious Fraud Office: Leave Sought To Appeal NZ First Foundation Decision
Leave has been sought to appeal the decision in the Serious Fraud Office’s NZ First Foundation prosecution... More>>

Government: Wage Growth Best On Record
Workers’ have experienced their biggest pay hike on record, outstripping inflation. Stats NZ figures show median weekly earnings from wages and salaries jumped by 8.8 percent in the June year... More>>

Human Rights Commission: Urgent Government Action Needed To Support Renters’ Human Rights
An immediate freeze on rent increases could give renters some reprieve during the cost-of-living crisis says Te Kahui Tika Tangata, the Human Rights Commission... More>>




InfoPages News Channels