A number of exciting new developments will provide a shot in the arm for Wellington’s retail sector.
The most talked about of these is a $20 million makeover of the Kirkcaldie & Stains department store on Lambton Quay which David Jones will be undertaking early next year after it takes over the store.
“While there’s a certain amount of sadness at the passing of a Wellington retail institution, the arrival of this major international department store is big coup for Wellington which will add considerable impetus to the CBD’s retail market,” says Bayleys retail specialist Jim Wana. “It’s already having a positive spin off even before David Jones’ arrival as it’s resulting in other big brand global retailers taking a close look at central Wellington and what’s available, particularly on Lambton Quay.”
Not far away in the Cuba Quarter, work is well underway on the rejuvenation of the one hectare former Deka store site on the corner of Cuba and Dixon Streets. The first stage of this will be a new campus for Whitireia New Zealand and the Wellington Institute of Technology and 1,000m2 of retail space on the site’s prime corner position. Developer Willis Bond & Co has appointed Jim Wana and fellow Bayleys Wellington retail specialist Johnny Curtis joint sole agents with Retail Solutions for the leasing of this space.
The strongest development activity in the Wellington retail market has been occurring in the “big box” bulk retail sector. In Petone, work has commenced on converting 80 percent of the former NZ Post Te Puni mail centre into an 11,000m2 Bunnings hardware store. Bunnings will be joining Briscoes, Rebel Sport, and The Warehouse in Petone’s growing big box retail cluster. A 5,200m2 K Mart store is also planned. The balance of the former mail centre building comprising approximately 2,000m² of space suitable for smaller bulk or complementary retail offerings, hospitality and offices is being marketed on behalf of Hodge Group by Johnny Curtis and Matt Gibbs.
Johnny Curtis and Jim Wana are also master agents for Wellington Airport’s further development of its Airport Retail Park, which has resulted in five new bulk retail units being leased, and are playing a major part in the retail repositioning of the airport terminal.
Jim Wana has been specialising in the Wellington CBD and city fringe retail markets for the past 10 years. Johnny Curtis has over 16 years’ experience in real estate. Both have been involved in the marketing of a wide range of retail projects, building up extensive market knowledge across all retail sectors.
Jim and Johnny have represented many large landlords, vendors and retail tenants in Wellington, achieving excellent outcomes for both leasing and sales transactions.