Scott Merrilees (left) and Chris Fleming, of building firm Naylor Love, work at the Five Mile development near Queenstown Airport. Photo by David Williams.
The $130 million Five Mile development near Queenstown
Airport hits a big milestone this weekend.
The first ''ground level'' concrete floor pour is scheduled
for today - cementing the development's rise from what used
to be known as ''Hendo's hole''.
The retail project, by Auckland developer Tony Gapes' Redwood
Group, has confirmed tenants for stage one include Countdown,
Briscoes and Rebel Sport. Other confirmed tenants on the site
- which includes a large basement car park - include a
Warehouse Stationery and Number One Shoes.
Naylor Love project manager Jamie Gibson said: ''We've had a
couple of good months now, especially with the weather which
has held off a little bit for us - we're punching ahead with
this ground floor level.''
Stage one will take in about 14,000sq m of retail space,
2000sq m of office space and a child care centre occupying
900sq m; part of the project's total 27,000sq m of retail
Another supermarket, a Pak'n Save, will be built at the
nearby Shotover Business Park development, while on the other
side of the airport, a retail development known as The
Landing is being built opposite the Remarkables Park Town
The first of three buildings there is scheduled to be open
later this year.
Stephen Brent, a partner of Queenstown property lawyers
Cavell Leitch, said the town's commercial builders have some
good years ahead of them.
''When you look at Five Mile, when you look at what's going
in beside there at Shotover Park, and also the land in the
middle there, which is the subject of Plan Change 19, that's
earmarked for a whole lot of commercial development as
He noted the southern side of the airport is notable not just
for The Landing but the continued expansion of the Porter
brothers' Remarkables Park development.
Five Mile was originally conceived by the now-bankrupt
businessman Dave Henderson, whose company Five Mile Holdings
collapsed in 2008.
Mr Henderson's company had been loaned more than $70 million
by the now-collapsed Hanover Finance for what was meant to be
a $2 billion development.