The new-look four-storey O'Connells Pavilion, in Camp St, has already gained the approval of DowntownQT chairman Steve Wilde, who described it as ``fabulous'' and hoped it would be the catalyst for other building owners to upgrade their premises.
Last week the Queenstown Lakes District Council agreed to forge ahead with the $385 million Queenstown Town Centre Masterplan, which would benefit businesses in the CBD.
Mr Wilde believed that investment should be matched by private enterprise to upgrade their buildings, ``because then we all win'', and applauded Skyline's planned upgrade of its 29-year-old building, also home to its head office.
Skyline executive chairman Mark Quickfall said the building met seismic standards but the redevelopment would enable the company to ensure it would withstand a ``significant earthquake event'' as well as modernising the facilities.
Among the work was the addition of a new structural frame around part of the building's exterior, effectively changing the building's appearance.
Each of the pavilion's four floors would be modified to retain a mix of retail and commercial spaces, along with the ground-floor food court.
A ``feature'' public lift would be installed between the food court and third level, inside the atrium.
Mr Quickfall said that over the past year the company, which marked its 50th anniversary last month, had done a feasibility study to determine whether it was appropriate to refurbish or redevelop the building.
``The analysis of seismic strengthening played an important early role in determining that redevelopment was the best option for O'Connells Pavilion.''
Mr Wilde said he had asked former Skyline chief executive Jeff Staniland ``to demolish that building'' about two years ago.
``It's such a landmark building in town that it deserves a bit of love.
``They [Skyline] have built some beautiful buildings ... and this is just really going to be the icing on the cake. I think everyone will have an opinion about the design [but] I hope that people look at this in what it will deliver for the town centre.''
Skyline Properties managing director Alastair Clifford said all tenants had been informed and were receiving regular updates.
Concept plans had been designed by Queenstown architect Preston Stevens, of McAuliffe Stevens. Mr Clifford said they were still at a conceptual stage and needed more work before the proposal could be submitted to the Queenstown Lakes District Council for consent.
Skyline planned to lodge a building consent application in the new year, followed by a resource consent application.
Subject to consent, it was expected the main construction period would begin in May 2019 and be completed in late 2020.
Skyline Propertiesopened the mixed-use Michael Wyatt-designed Eichardt's Building in Marine Parade last year.
In February the company opened a $20 million luge development in South Korea and it is planning a $100 million-plus redevelopment of its Queenstown gondola and Bob's Peak complex, as well as building a new multistorey car park with a price tag of about $10 million.
