Stride Property scales back plans for Wellington's Johnsonville Mall
The new proposal will increase the centre to 26,000sq m
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Rich List
Stride Property Group, the NZX-listed property investor, has sought resource consent to redevelop the Johnsonville Shopping Centre in Wellington's northern suburbs.
The mall owner was granted consent in 2009 to expand the shopping centre to 32,000sq m from 10,000sq m, but no work has been carried out with the upgrade stymied by the global financial crisis. The new proposal will increase the centre to 26,000sq m.
Stride chief executive Peter Alexander says the plans reflect the changing needs of the area and wider catchment area, "We have reduced the overall scale of the project and the mix of retail uses."
"We are proposing a dining precinct, which we believe will become a destination in itself, and space has been provided for a boutique cinema within the complex," he says.
Earlier this year it was revealed half a dozen retailers had left the mall in the past two years.
It's thought construction on the upgrade will start between late 2017 and late 2018.
Shares in Stride were unchanged at $2 and have risen 9.6% since the start of the year.
(BusinessDesk)
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Edwin Mitson
Mon, 26 Sep 2016
Mon, 26 Sep 2016
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Stride Property scales back plans for Wellington's Johnsonville Mall
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