Out of the 62 stores that remained when Dick Smith shut down earlier this year, just over a dozen have been re-leased to new tenants. Colliers national director of retail Leroy Wolland said there's a lack of demand for Dick Smith's former stores in smaller towns such as Levin, Gisborne, Richmond and Wanganui.
The New Zealand retail industry is becoming much meaner and leaner, a report by property company Colliers says today. Retailers are streamlining their operations and managing their properties better to meet the changing demands of consumers. We take a closer look at the report’s findings and how New Zealand’s different cities are faring.
The impending arrival of David Jones has stirred up a lot of excitement, but there's more going on than what meets the eye in Wellington. Ty Dallas, a Colliers International associate, explains why the demand for retail space is heating up in the capital.
Tauranga’s property boom has made its way into retail, with Kmart due to open a store in Bethlehem’s $15 million redeveloped town centre. The town is short drive to the west of Tauranga’s CBD. Plus: Kiwi customers are campaigning for the retailer to bring its online store to New Zealand.
Multi-million dollar precincts underway in Christchurch are galvanising smaller players to become a part of the action. Peter Guthrey of Guthrey Holdings is seeking expressions of interests for a 2000 square metre site next to Ballantynes in the Christchurch retail precinct.