THE large retail complex being built near Cobham Drive’s waterfront is nearing completion and is set to fill a gap in the furniture market.
The 4983-square-metre Cobham Drive Retail Centre, in Kilbirnie, with a building budget of between $5 million and $6 million, is due to be completed before the Christmas trading period. Ty Dallas and Sam McIlroy, of Colliers International, are leasing the property for developer Treemendous Ltd — the property arm of Big Save Furniture.
Big Save Furniture will occupy 3008 square metres — 80 per cent of the retail space — but a 457 square-metre retail unit on the ground floor and three 350-400-square-metre office or showroom spaces on the first level are available to lease.
Mr Dallas said one of the first-floor spaces had a north-facing deck and would be ideal for a cafe space.
"What the owners are looking for is a smart cafe on the first floor which will offer stunning views across Evans Bay."
The rental for the office space would be set at $250 net per square metre and the retail space at $300 net per square metre — lower than similar retail and office space in the central city.
"It offers a very affordable option. Some office space now is as much as $500 a square metre [in the city]."
Access to the 60-space car park will be at 50 Tacy St.
The complex will add to the retail expansion seen at Lyall Bay’s Airport Retail Park, which was fully leased, and the Bunnings store which has just moved to Lyall Bay from Newtown.
Barry Smith Property Development Ltd director Barry Smith, who is the property manager, said the southeastern suburbs lacked a big furniture store and the area’s demographics were ideal — the store is set to attract customers from Miramar, Seatoun, Roseneath, Kilbirnie and Hataitai.
"They [the developer] view that the southern side of the city is poorly serviced in that area. It’s got good car parking and it’s got great exposure."
The building schedule had been interrupted by the wettest winter in years but they were on track to complete the building in late November.
"The weather’s been a challenge. There’s a lot of structural steel and they can’t weld during heavy rain. We’re over the worst of that now that we’re partially enclosed."
Mr Dallas added: "It’s certainly taking shape."
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