Leasing is under way for AMP Capital Property Portfolio’s retail development, Nelson Junction.
It will be the biggest commercial development in the Nelson area, aimed at providing a variety of large format stores, some of them new to the area.
The retail mix will be designed to complement the existing Mitre 10 Mega, which is opening an 850m2 expansion, and Speights Ale House.
The development is halfway between Nelson and Richmond on State Highway 6, and will provide 30,000m2 of retail once complete.
Earthworks on the staged development are expected to start by the end of the year, with resource consent and the stage one building consent already in place.
Geoff Faulkner, broker for Colliers International’s Nelson office, says he is in the final stages of commercial negotiations with seven national retailers, mainly selling homewares. They will take up most of stage one and two, almost half of the 18,000m2 currently available in the development.
There is also strong inquiry for the stage three space, he says.
Market data suggests Nelsonions travel to Christchurch for homewares, he says.
Chris Hutching for NBR NZ Property Investor
Tue, 30 Sep 2014
Tue, 30 Sep 2014
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Nelson Junction leasing under way
41802