Work to start on $9m Frankton shopping centre

Work on a $9 million shopping centre at Remarkables Park Town Centre will begin in two weeks.
Work on a $9 million shopping centre at Remarkables Park Town Centre will begin in two weeks.
Construction of a $9 million shopping centre at Frankton's Remarkables Park Town Centre will begin in two weeks, with completion of stage one scheduled for later this year.

Diversified NZ Property Fund's retail building will be built at the northeast corner of the park opposite New World supermarket and next to Hawthorne Dr.

Retail manager Roy Stansfield said leasing of stage one of the 1400sq m retail building was "well advanced".

Confirmed retailers included Whitcoulls, The Coffee Club, Kapa Gallery and Canterbury of New Zealand.

"Strong inquiries have been received for the balance of the space," he said.

Remarkables Park Town Centre was the core feature of the 150ha Remarkables Park land, a mixed-use development of retail, office, hotel, residential, healthcare and recreation facilities.

A master plan for the area had been developed over the past 10 years, Mr Stansfield said.

Naylor Love was awarded the construction contract for the building.

Diversified NZ Property Fund Ltd was set up and bought Remarkables Park Town Centre in 2007.

It has since purchased a half share in Johnsonville Shopping Centre in Wellington and a share in Pukekohe Mega Centre.

Diversified NZ Property Fund is owned by two major Australian institutional superannuation fund managers and is managed by Diversified Management Limited, part of DNZ Property Group.

 

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