Could 2026 be Wellington’s year?
Saturday, 18 October 2025
Hey Wellington, next year is looking pretty good.
The arguments over cycleways and stalled projects haven’t disappeared, but around the city, long-delayed redevelopments are under way. There are new shopfronts and heritage restorations and the city is shifting up a gear.
The next year looks full steam ahead.
WellingtonNZ chief executive Mark Oldershaw said 70 more businesses had registered in Wellington City in the last 12 months, 37,497 in September compared to 37,427 last year.
The new business registrations are across varying sectors and include 40 financial and insurance services, 31 professional, scientific and technical services, 14 retail trade, 12 accommodation and food services and seven arts and recreation.
Oldershaw acknowledges that while times are tough for many businesses across the country at present, there are still plenty of success stories that should be celebrated.
“There’s plenty to be positive about here in Wellington. I’m very encouraged to see the spectacular growth in the game development industry, with revenue growth of 38% in the last year, and importantly that the studios themselves are very confident of a strong year ahead.”
He said there were also plenty of screen productions in the next six months. These include the sequel to Black Sheep, A Dog’s Show, Secrets at Red Rocks (season two), When Darkness Loves Us, and Deadpoint.
Oldershaw said Screen Wellington conservatively estimated these productions will contribute $25 million to the local economy and employ over 400 crew members, along with 200 sheep and five dogs.
Opening up
Wellington is headed for a year of openings, from the long-awaited new central library to the restoration of the old Band Rotunda.
At long-closed Reading Cinema, redevelopment is well under way, with leasing opportunities already open. Seismic strengthening is to start in the next few weeks with developer Primeproperty undertaking a full structural upgrade.
Primeproperty’s Eyal Aharoni said the strengthening phase marked the start of a wider redevelopment project that would see a whole new mix of entertainment, retail, and hospitality offerings on Courtenay Pl.
Aharoni said the return of Reading Cinemas would mark a major milestone not just for development, but for Wellington.
“With over 4.6 million people visiting Courtenay Place annually before its closure, it’s clear this location has long played a vital role in the life of the city,” he said.
“Courtenay Pl remains Wellington’s cultural epicentre. Reading will restore its role as a key connection between Wakefield St and the waterfront, while also drawing people back into the heart of the city — both day and night.”
And at the newly reimagined Wellington Pavilion - the old Band Rotunda - a new tenant has been announced, OMEYA, a new spa and wellness facility set to occupy the pavilion’s downstairs area. New detailed designs are due to be ready in the new year.
Watson Group’s Sophia Hatzilamprou said it was a special project for Wellington.
“This project is all about giving back to an incredible city and breathing new life into a landmark that holds a special place in Wellington’s story. The pavilion is more than a redevelopment; it’s a celebration of the city’s spirit.”
They are also taking bookings for the venue.
Further along the Golden Mile, the city’s long-awaited new central library is almost done, set to open early next year — a major piece of civic renewal after years of waiting.
The City to Sea Bridge looks set to remain as does the Begonia House - after being done up.
The City Gallery is set to reopen in late 2026 and the Town Hall is on track to be completed by mid-2026, with its grand reopening anticipated in the first quarter of 2027. This will also be the new home for a national music centre.
Moving and shaking
There are big and small moves on Lambton Quay too. The stretch of the Golden Mile from Parliament to Willis St has a few empty shops but there are also quite a few new faces.
The biggest one is Westpac which has moved across the road into the old ANZ site. Nearby the old Body Shop site is leased (no news on that yet) and Dough Bakery has opened a second shop - now having one near both ends of the Quay.
A few shops are being refurbished like sleepwear giant Peter Alexander - they should be back next month.
Woodward St, which takes you up to The Terrace is having a moment. It’s being reinvented as a lane way - a new bar recently opened at the bottom of the stairs and nearby jewellers Austen and Blake have set up shop. In August Japanese restaurant Kajiken opened there as well.
Gold retailer and jeweller Malabar is also looking to find a shop in Wellington.
In the suburbs there is just as much - a new specialist vet hospital announced by WingNut PM ‒ the property arm of Sir Peter Jackson and Dame Fran Walsh’s business in Park Rd in Miramar.
Work is being explored for a new library by the Ministry of Education at a school in Khandallah and there’s a new park at the former Workingmen’s Bowling Club site in Newtown.
In Karori, resource consent has been granted for the 172 townhouse development taking the place of the long derelict Old Teacher’s college.
It’s not just us watching though - a couple of recent surveys have also been trumpeting about Wellington.
Chef’s Pencil, a food magazine out of Australia, compared the cost of dining out, coffee and beer and found Wellington was among the more affordable global cities, with a three-course meal at a mid-range restaurant representing roughly 1.2% of the average net salary. Wellington was also one of the most affordable cities globally for a cup of coffee - but our beer is expensive.
There are more tech and medical conferences coming to the capital than there have been in years and cruise ship season starts next weekend with the arrival of the Carnival Splendor.
And let’s not forget the Black Caps face England in its third ODI cricket match in November at Sky Stadium.
Further ahead in summer, Ed Sheeran returns for a concert in January and UB40 are on tour around the country.
That’s the good news.
But it’s not all sunshine. There’s work to do.
The Wellington Chamber of Commerce’s recent quarterly business confidence survey said businesses were asked if they felt supporting and growing business in Wellington is something that matters to the council – with nearly 60% of respondents saying no and only under 33% of respondents saying yes.
Hayley Horan has been named the chamber’s new CEO - from November 10. She brings senior leadership experience from Microsoft and New Zealand Trade and Enterprise including NZ trade commissioner to Singapore. Her arrival is expected to mark a fresh chapter for the chamber.
Meanwhile, acting chief executive, Amanda Wood said of Wellington’s downturn, “Recent years have tested us all, with Wellington businesses facing huge challenges and change, so it comes as no surprise that the relationship between council and business is at a low point. But with new leadership across Wellington, and soon a new mayor, this is something the chamber is very keen to play a constructive role in strengthening.”
She said most businesses expected the strength of the Wellington economy to be better in the next 12 months, but just over 70% expected costs to rise for them in the same period. Consumer confidence was for 70% of respondents the top barrier or challenge concerning them.
Last month’s ANZ NZ country wide card spending data for September showed spending was up 3.4% compared to the same time last year.
Yes the property market is flat with prices down -1.1% since last month - but the price drops have meant first home buyers have been able to take advantage in greater numbers - making up to 36% of sales. If you rent, there are plenty available - available Wellington stock is up 105.9% on last year.
Let’s leave the last word to incoming mayor Andrew Little who said the year ahead looked exciting for Wellington.
“Key projects are nearing completion and there’s a pipeline of further infrastructure and community facilities,” he said.
“Our communities are at the heart of these facilities. I’m excited to see these public spaces ready to come alive and help get Wellington humming again.”