Zara-like feel to $20m refit
No word on whether European fashion chain will move in
The $20 million refurbishment of a Queen St building has created a grand Zara-like ground-floor space ready for a new tenant, although the owners won’t say whether the popular European brand would open there.
Wilshire Group is well advanced on work at the eight-level 246 Queen St retail and office premises previously tenanted by fashion chain Factorie and other shops and is bringing what it calls a “hero retail space” to dominate the block.
The Spanish clothing retailer Zara has only one NZ outlet at Sylvia Park, snared by NZX-listed Kiwi Property.
But retail experts have long expected it to open further new premises and 246 Queen St has been cited as an ideal location in the heart of the city, offering a large 890sq m of what it calls “flagship” retail with 4.9m of glazing, a 5.9m stud and signage opportunities.
A Zara Australia spokesperson did not reply to a question about whether that business had leased, or intended to lease space in 246 Queen St.
The building is opposite Westpac, almost diagonally across from shared space Darby St, in the block between Victoria St and Wellesley St.
A Wilshire spokeswoman said the business bought the building in 2015 from 246 Investments, “part of an investment fund under Oyster Property Group”. The retail/office block was built by Sir Bob Kerridge in 1964
and Wilshire has stripped out all internal fittings from the shops and offices above. The first floor has been removed in the largest retail area to let and the street-level canopy raised to add grandeur and height.
That gives a 6.5m atrium for a ground-floor tenancy as well as a lobby area.
And quick turn-around stock like Zara’s would be well-catered for: “additional storage space available, easy loading to back of house via goods lift from Lorne St” are cited in the leasing brochure.
Wilshire sales manager Christine Wrightson and chief executive Andrew Brown showed off work inside the block with entrances off both Lorne St and Queen St. “We have not confirmed any tenancies,” Wrightson said when asked about whether Zara would lease space.
But only two tenancies will occupy the ground floor, she said — the flagship 890sq m store to the Victoria St side of the building and a 41sq m tenancy at the Wellesley St side.
Alaska Construction is the head contractor, architects Fearon Hay designed changes, RCP is project manager, Match Realty is the retail leasing agent and CBRE is leasing commercial space, Wrightson and Brown said.
The Lorne St area will have food and beverage tenancies, more restaurant-style offerings, Wrightson said, than a food court.
Wrightson and Brown said demolition work on the entire project started last August and is due to finish before the middle of next year.