Artist’s impression of the development of Nelson Junction near Miter 10 Mega.
Development of the Nelson Junction site begins with the progress of plans for a large-format shopping center.
Nelson Gibbons Company, owner of the Annesbrook site, is starting the first clearing and infrastructure work, company chief executive Scott Gibbons said.
Colliers International real estate agency is marketing the development of Quarantine Rd on the vacant land of Miter 10 Mega, seeking tenants for the first stage of the project.
In the first stage, opposite Miter 10 Mega, there will be 10,948 square meters of shops with up to 11 tenants.
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Colliers was looking for tenants such as furniture, appliance, housewares, plumbing, lighting, home furnishings and lifestyle retailers. The size of buildings or sites will vary from 500 m² to 2500 m².
Gibbons said development of the site will begin early next year after completion of stormwater and other service updates, as well as site preparation. There was a wide range of interested potential tenants, including some from outside the Nelson area, some who were already in the area but were looking for a different location, and some from the food industry, he said. declared.
It was hoped that the first stage of development would be completed in early 2023. Gibbons envisioned that it would eventually include a mix of light industry, retail and home improvement businesses.
The 8 hectare property, which once housed the Honda factory, was touted as a future shopping and shopping center before Miter 10 Mega opened in 2006. In 2019, Gibbons Property Investments purchased the remaining 4.5 hectares of vacant land.
“There has been a lot of non-activity on the site,” Gibbons said. “We take our time to prepare the plans well. “
Gibbons said the site was a central location that should be attractive to buyers in the Tasman and Nelson areas. He believed there was a good demand for a home improvement and lifestyle center near the town of Nelson.
“The road restrictions inside and outside the city make this site very attractive and it is truly a pivotal location for these types of services, with a profile like no other.
The second stage of the project would see development on the ground closer to Speight’s Ale House. The Gibbons site shows that a large retail / commercial format is offered for this site and is being offered.
Gibbons has over 230,700 m² of properties in its portfolio, housing 150 tenants. Its portfolio is diversified into three key sectors: bulk retail, industrial and commercial real estate.
Colliers Nelson broker Geoff Faulkner, who markets the Nelson Junction development with Colliers national retail manager Leroy Wolland, said he expected strong interest in the center due to the strength economy.
“Nelson is in booming city mode. We have almost zero retail vacancy on Main Street and the CBD, and nearby Richmond has almost zero vacancy on Main Street, ”Faulkner said.
Wolland said there is no comparable complex with vacant space in Nelson Market and Miter 10 Mega is a huge asset to potential tenants.
“It’s a perfect choice for furniture, appliances, housewares, home furnishings, tiles, flooring, paint, plumbing, kitchen showroom, lighting, automotive retail and, possibly, marine retail. “