Tauranga Crossing is shopping for tenants
Artist’s impression of the planned Tauranga Crossing Shopping Centre at Tauriko, Tauranga.
Prospective retail tenants are being sought for the planned Tauranga Crossing Shopping Centre with construction scheduled to start early next year and trading to commence in 2016.
The 13 hectare site, located in Tauriko, part of Tauranga’s western growth corridor, will encompass over 44,000 sq m of retail floor space and 2500 car parks.
Duncan Woodhouse of Colliers International has been handling the leasing campaign for Stage One of the project totalling 17,800 sq m and is now seeking to lease the remaining available space of 5500 sq m to food, service and general merchandise stores.
“It will be one of only two regional shopping centres in the Bay of Plenty – but it will also be one of a kind,” he says.
“The centre will comprise both a traditional, enclosed mall and Mixed Use open space to accommodate larger format tenants. The Tauranga Crossing Shopping Centre will present retailers with the opportunity to trade alongside four of New Zealand’s leading retail brands – Pak’nSave, The Warehouse, Noel Leeming and Warehouse Stationery.
“This will make it the only shopping centre in Tauranga to include both bulk retail and industrial-use activity within its immediate catchment and this will represent a point of difference from other retail facilities in the region.
“Other centres like Bayfair are generally orientated towards traditional retail or large format retail but the Tauranga Crossing will provide both those options and services - effectively making it a one-stop shop.”
Four flat, wide, freehold sections across the road from the new shopping centre and zoned Industrial or Bulk Retail are also for sale that that could be employed by industries to complement centre.
The four vacant properties situated in the Tauriko Business Estate at Taurika Drive and Whiore Avenue are being sold by negotiation through Simon Clark and Rob Schoeser, also with Colliers International.
“This is a strategic opportunity to purchase large portions of land for industrial uses or bulky goods retail where the activity will be devoted to the retailing of large goods like appliances, furniture and building supplies,” Clark says.
The land is currently held in one title of 11.682 ha and will be subdivided into a number of lots. The four lots for sale within this subdivision, are 9981 sq m, 41,382 sq m, 23,858 sq m and 10,768 sq m. Some of these will be able to be subdivided into smaller lots.
Clark says the value of the centre’s location and its market potential has already been recognised by Pak’nSave, The Warehouse, Noel Leeming and Warehouse Stationery.
“These four operators account for nearly 70 per cent of Stage One and the balance of that stage is what this current leasing campaign is targeting.”
He says the total trade area population for the new shopping centre and land purchasers is estimated at 257,000, including 116,000 in the main trade area. “The retail expenditure capacity of the total trade area is estimated to grow from about $2.8 billion to $4.6 billion by 2026.”
Potential customer and employee catchments have also been considered in planning for the shopping centre with 2800 residential sites in The Lakes subdivision right next door. “The Pyes Pa settlement is also nearby while Rotorua is only 35 minutes’ drive away.”
Woodhouse says future stages for Tauranga Crossing are intended to “reinforce the centre’s role in the region. They will include an enclosed mall, bespoke food and beverage outlets, health, entertainment and leisure activities. The design and architecture will also reflect Tauriko’s timber milling history, by using natural materials along with significant site planting.”
He says the location of Tauranga Crossing and the adjoining Tauriko Business Estate at the intersection of SH 29, SH 36, Takitimu Drive and Route K will give the sites good vehicle access and high visibility.
“It is only six kilometres to Tauranga’s CBD, and a further two kilometres to the Port of Tauranga.”
Woodhouse says Tauranga is one of New Zealand’s fastest growing cities. “It constitutes the eastern component of what is considered the country’s economic ‘golden triangle’ - the geographic area between Auckland, Hamilton and Tauranga.”