Developer of Timaru's Showgrounds retail centre behind neighbouring business park
Thursday, 24 August 2023
The developer behind Timaru’s newest retail complex has plans for more development at the town’s north end in the form of a business park with 36 freehold commercial units for sale.
The Showgrounds Business Park, at 3-7 Eversley St, Timaru, is advertised as being “nestled in an exceptional location’’ with pedestrian access, subject to consent, connecting it to The Showgrounds retail development, north of the site, and hopes that might be extended to vehicle access.
The developer behind the business park is Tony Gapes, of Redwood Group – the same developer behind The Showgrounds.
Plans for the 1371sqm² Eversley St site, off State Highway 1, show 12 40sqm² units, 14 60sqm² units and 10 70sqm² units.
Work is expected to be completed by the end of 2024, marketing for the development says.
On Thursday, Gapes said the development was aimed at trade retail users and small business owners who would like to own their premises to run their business from.
“These type of developments have been very successful throughout the rest of the country, but I am not aware of any being available in Timaru,’’ he said.
“Being next door to a large retail centre would also be a big plus for these businesses.’’
He said Redwood had been looking at the site for the past 12 months.
The site has previously been occupied by a 10-pin bowling alley and a vehicle workshop, and in September 2022, the industrial premises were listed for lease at $120,000 plus GST.
According to Quotable Value, the property was last sold in May 2009, for $1.4 million. As of September 2020 it had a capital value of $1.36m.
He said the two developments would differ as The Showgrounds is a retail centre, while the business park is a trade-based centre where “small manufacturers, tradesmen, builders and the like’’ can have a warehouse and office.
It could also be used by people that needed more storage for their vehicles, he said.
“We also have some retail spaces where we can lease to users like plumbing or flooring showrooms, for example.
“These are not users we can put into The Showgrounds.’’
Gapes said there were a lot of opportunities in Timaru and said The Showgrounds was trading well.
It was hoped the second stage of the development would begin soon, he said.
“We are dealing with some exciting tenants for this stage, which I think will be really well received by the people of Timaru.’’
In May 2022, Gapes told The Timaru Herald he did not want to see a negative impact on the town’s CBD and had attempted to purchase a large piece of land there.
At that time he said they were still looking at other opportunities in the CBD.
He confirmed this was still the case.
“We are also looking at doing some housing and options in the CBD for a couple of large tenants who would rather locate in the CBD than at The Showgrounds.’’
He thought Timaru’s CBD was “slowly improving’' with tenants such as Cotton On and Animates moving in.
“And there will be more to follow.’’
Bayleys Realty Group commercial and industrial capital transactions Ryan Kerr said there was demand for a development such as the business park in the region.
“There are a multitude of opportunities and the demand is there,’’ Kerr said.
“We’re very excited about it.’’
He said there were plans for pedestrian links between the business park and The Showgrounds.
“And all going well there will be a drive between linking between both properties.
“Both the developments will tie in together.’’
Bayleys general manager commercial and industrial for South Island William Wallace said Timaru was a “substantial place’’.
“The Showgrounds and Scott Base [build] – it’s a serious hot spot to watch, and new businesses will come off these things happening,’’ Wallace said.
“[The units] are a great opportunity, and it’s the first of its kind in Timaru.’’
There also appears to be other developments planned for the area with the Timaru District Council issuing a resource consent for a self-service car wash facility, and building consents for the erection of a car wash building and a wash water treatment system, at 199 and 201 Evans St.
The site is adjacent to the entrance to The Showgrounds, and according to a council spokesperson is owned by an Auckland-based company.
Marketing for the next stage of The Showgrounds development, listed online in July, says construction is to begin at the end of the year and completion expected by mid-2024.
Tenancy at that part of the development ranges from 85m² to 260m², it says.
Health and beauty, service and food and beverage operators were being sought for the development, it says.
It was announced in 2019, that Redwood Group had purchased the 12-hectare site for the retail development from the Timaru District Council’s holdings company.
News of the sale and three-stage construction plans for the 34,000 sq² development were controversial in some sectors, with concerns the development would hurt the town’s central business district and legal action threatened at one stage.