In a city thirsting for parking buildings, the repaired South City Shopping Centre on Colombo St has car-parking galore and thrives. Nearby, the new flagship store built for Smiths City has added bulk retail to this precinct.
Moorhouse Avenue, a prime location for bulk retail before the earthquakes, has reasserted itself, with new retail attracted by passing traffic counted at 40,000 vehicles a day.
The Midway Moorhouse shopping precinct has attracted retail tenants leveraging the site’s advantages as a destination shopping experience. Stores have a high ceiling, large windows and lie to the sun to create a desirable location for customers to visit.
The site has 300 car parks and a mix of 12 retail outlets. Hunter Furniture reopened there in 2013 and sub-let to The Home Theatre Store and Kitchen Things. Total Food Equipment, La-Z-Boy, Pet Central, Chain Reaction Cycles, Asko Design, Powerstore, Furniture Concepts and Back to Bed are also tenants in this precinct.
Nick Doig says the former Powerstore site has released 2,600m² for a new Farmers homestore and with the addition of two further large- format stores on the cardstwo other large format stores: “The face of Moorhouse will change considerably.”
In old Sydenham, The Colombo shopping centre has established a reputation for quality fashion and well-performing food and beverage after the earthquakes. Two further stages will become available for leasing.
For some CBD retailers, The Tannery retail and entertainment complex in industrial Woolston was a welcome refuge after the destruction of the inner city. The 20,347m² site has 65 tenancies, mostly boutique shopping. Two new tenancies have been added; Alice’s art movie theatre and a lounge. The Tannery net leases range from $300-$500m² - a far cry from Westfield’s $1,000-$2,000m² levels.
Beyond South Hagley Park, Lincoln Rd is a mixture of new high rise office properties, new food and beverage, and traditional early 20th century shops.
Running northwest, Victoria St captures premium customers from affluent suburbs and is evolving as a retail destination with high-end interior design stores such as Cavit & Co at Knox Plaza, Matisse, and Belle Interiors. Net leases are ~$450-$550/m² on six year leases.
Retail in the city end of Victoria St is, however, in shock at the unexpected move by the council to close two blocks north of Christchurch Casino to cars and substitute 55 trees for 50 redundant on-street parks. The owner of the Frogmore interiors stores, Rosie Austin, a street veteran of 22 years told NZRetail she was appalled after refurbishing her store last year. She is relocating to Merivale.
On its Papanui Rd frontages, the Merivale retail precinct has seen new retail build over four years. Walker Architecture designed a block of six two-storey shops with retail ground on floor areas from 40 m² to 80 m². Tenants include Issimo, Dfusion, Alabaster’s Pharmacy and Cruiseabout.
The newest retail is the 2016 opening of a four-store site featuring Rodd & Gunn, Wallace Cotton and two more retailers.
Colliers is leasing the last space in a new retail development on the corner of Merivale Lane and Papanui Rd where the existing tenants are Metro Cafe, Deval Boutique and Petersens Jewellers.