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Scale trimmed in new plan for Wellington's Johnsonville Mall

Monday 26 September 2016 05:44 PM

Stride Property trims scale in new plan for Wellington's Johnsonville Mall

By Edwin Mitson

Sept. 26 (BusinessDesk) - Stride Property Group, the NZX-listed property investor, has sought resource consent to redevelop the Johnsonville Shopping Centre in Wellington's northern suburbs.

The mall owner was granted consent in 2009 to expand the shopping centre to 32,000 square metres from 10,000 square metres, but no work has been carried out with the upgrade stymied by the global financial crisis. Today's proposals would see it increase in size to 26,000 square metres.

Stride chief executive Peter Alexander said in a statement that the plans reflected the changing needs of the area and wider catchment area, "We have reduced the overall scale of the project and the mix of retail uses."

"We have proposed a dining precinct, which we believe could become a destination in itself, and provided space for a boutique cinema within the complex," he added.

Earlier this year, Fairfax Media reported that half a dozen retailers had left the mall in the past two years.

It's thought construction on the upgrade could start between late 2017 and late 2018.

Shares in Stride were unchanged at $2.00, and have risen 9.6 percent since the start of the year.

(BusinessDesk)

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