Expressions of interest sought in TDHL-owned Stafford St buildings
Timaru District Holdings Ltd (TDHL) is seeking expressions of interest from possible developers for land and buildings it owns in southern Stafford St.
‘‘We’re open to all offers that people can create out of the buildings or sites,’’ TDHL general manager Frazer Munro said.
‘‘The preference is it will contribute to the vitality of the CBD and complement the Theatre Royal and Heritage facility.’’
TDHL, the financial arm of the Timaru District Council, bought five properties from 101 to 123 Stafford St, for $1.7 million in September 2018.
The buildings included the former Majestic picture theatre, Newman’s Music Works, Readers Book Exchange, and a former computer shop.
The intention was to combine the sites, which are opposite the Theatre Royal, and on-sell to a developer as a single 3700 square-metre site.
Munro said without clarity from the council over its plans for the Theatre Royal and Heritage facility it had been difficult to gain the interest of developers.
This has changed with the recent release of design plans for the heritage project.
‘‘We’ve got clearer criteria now, and we’ve got a broader picture. We’re very conscious of working with the city hub and the Theatre Royal and heritage facility.’’
Asked whether demolition of buildings or construction of a car park would be options, Munro said TDHL was open to possibilities.
‘‘Whatever brings vitality; we’re not keen to rule anything out.
‘‘We’ve engaged with the council, and we will mirror their expectations.’’
Munro said the four criteria they were working on were: Create an experience, strong identity, better connections and a destination.
TDHL chairman Ian Fitzgerald said all proposals would be subjected to these assessment criteria.
‘‘South Stafford St development will be a pivotal part of transitioning the city hub area from a retail and commercial centre to a place where people can live, work, play and shop.’’
CBD group chairman Nigel Gilkison said it was positive TDHL was acting and not leaving the buildings empty.
A heritage audit had been done last year, but he was not aware any of the five buildings were on it.
‘‘Doing them [buildings] up should be looked at as an option rather than demolishing.’’