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The Woolstore building on Te Ana Marina was set to be transformed into a hospitality and retail space by high profile developers the Peebles Group.
Head of the group Richard Peebles said work was “effectively under way” on the project before the lockdown.
“All the designs and things were done but that’s irrelevant really, Covid has got in the middle. It’s not the right time,” Peebles said.
He said there was “strong interest” from potential tenants looking to lease spaces in the complex.
Some of the Peebles Group’s city developments undertaken with his partners Mike Percasky and Kris Inglis include the Little High restaurant, Riverside farmers’ market and Riverside retail complex.
The Woolstore building offers 720 sq m of ground floor space and features views over the marina, onsite car parking as well as a pedestrian link connecting Te Ana Marina to Lyttelton.
LPC marketing manager Simon Munt said the company is currently considering the various options for the future development of the whole of the marina area.
It is to assess “how best to deliver a vibrant and exciting space for the public.”
LPC’s plans for The Woolstore were revealed in July last year, and residents had waited eight months for the announcement since it became vacant in October 2018.
“It was something the port was looking forward to, certainly in being able to make use of that waterfront. It’s a real shame.
“I just loved that style. It’s a very English regeneration, the docks and industrial buildings in England are very similar to that structure. It would have worked beautifully in the woolshed.”