Work has started on Wanaka's new lake-front multi-level commercial complex at 93 Ardmore St, in which the Speight's Ale House is expected to be an anchor tenant.
Local valuer Iain Weir, who is project managing the development, said two of the three ground-floor tenancies had been leased, one to a bar/restaurant - widely rumoured to be a Speight's Ale House - and one to a retail business. He was unable to disclose who the tenants were.
Lion Nathan concept bar manager Mark Neal, of Auckland, would only say the company had "shown interest in the site" for a Speight's Ale House, but there were "still some consents to work through" before he could confirm anything.
A Speight's Ale House previously operated at the other end of Wanaka's lake-front commercial precinct, opening in December 2005.
That business became the Wanaka Ale House after Queenstown businessman Steve Laing bought it in December 2009 from CEA Trading, which had gone into receivership.
Mr Weir said interest had also been expressed by a cafe tenant for the remaining ground-floor space and, of the eight office suites available for lease on the second level, one lease had been confirmed.
There was some interest in the remaining spaces, although most prospective tenants were waiting until the building was "a bit nearer completion".
The 1131sq m property is next to Bullock Creek, and is the last lake-front commercial development site available in Ardmore St.
The property had a rateable value of $4.22 million and is believed to have sold for about $2 million last year to Ardmore Holdings (Wanaka) Ltd, a company directed by Ashburton accountant Ross Gibson.
Consent for the 9.2m-high building was granted in November, and included conditions relating to the retention of several trees at the site.
Contractor Naylor Love began work began at the site on Monday, with the construction period set down for 32 weeks.
Mr Weir said the finished product would be a "really nice mix of indoor and outdoor use and public and private space".
