A buoyant Nelson economy is being reflected in a bullish attitude in its retail and trade retail sector, following the residential housing growth in the region.
“Nelson is in boom town mode. We have almost nil retail vacancy in the high street and CBD, and nearby Richmond has almost nil vacancy in the main street,” says Colliers Nelson broker Geoff Faulkner.
With this in mind, he is expecting strong interest in the new Nelson Junction home improvement and lifestyle centre at 99 Quarantine Road.
Faulkner is marketing the complex in conjunction with Leroy Wolland, national director of retail at Colliers.
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Experienced local property company Gibbons has taken over ownership of the site, once home to the old Honda car plant.
Gibbons is a family business with a portfolio that is diversified across three key sectors – bulk retail, industrial, and commercial.
Nelson Junction is located in the heart of greater Nelson. It sits at the intersection of State Highway 6 and Quarantine Road, 1km from Nelson Airport, and is central to Port Nelson, Nelson CBD, and Richmond.
Wolland says the location is a rock star – anchored by the Mitre 10 Mega Nelson store.
“There’s no comparable complex with any vacant space in the local market. Mitre 10 is a huge drawcard. Opened in 2006, it’s already expanded and now occupies 15,000sq m in total. That gives a pretty good indication that this area is a mecca for the tenants we’re targeting,” he says.
The popular Nelson Car Museum and Speight’s Ale House are also adjacent.
“This will be a comprehensive and well thought out home improvement hub with a complementary retail tenant mix, potentially including some showrooms.
"It’s a perfect fit for the likes of furniture, appliances, homeware, home furnishings, tiles, flooring, paint, plumbing, a kitchen showroom, lighting, automotive retail and, perhaps, marine retail.”
The centre, set for completion in early 2023, will see a combination of uses and brands that will allow cross and complementary shopping designed to ensure a positive and convenient customer experience, and great trading outcomes for all the occupiers.
Scott Gibbons, managing director of Gibbons, believes there is good demand for a home improvement and lifestyle centre close to Nelson city.
"The roading restraints in and out of the city makes this site very appealing and it really is a pivotal location for those types of services, with a profile like no other,” Gibbons says.
“The wider Nelson region is growing, particularly in the Richmond area, and this site has excellent access out to Richmond on the deviation, while not being too far from Nelson city.
"It gives choices to our existing family of tenants, to other local businesses needing new premises, and for those keen to move into the region."
- Article supplied by Colliers
