Work will start this year on a further $200 million-plus development of The Base, the final stage of Hamilton's retail giant at Te Rapa.
Owner Tainui Group Holdings, the commercial development arm of Waikato-Tainui, has building consent for an automotive-focused retail and service area, an office complex, a four-level car park, large retail showroom outlets and a medical services precinct. TGH chief executive Mike Pohio said that this year it was planned to open the 10-business automotive precinct and construction would start on offices comprising 11,000 square metres of floor space.
They will be built on an existing car park site opposite Mitre 10 Mega and bordering State Highway 1.
The multi-storey free car park will be in the same area.
Mr Pohio said the large-format retail development will offer showrooms suited to a "top line" plumbing business and houseware retailers.
The planned medical centre and associated services complex will be built at the north end of The Base.
The final stage of development, an investment of $200m to $250m, would take The Base development north up to Te Kowhai Road, Mr Pohio said.
About 1 million people visited The Base last month, with 623,000 passing through the doors of Te Awa alone. Construction of The Base, named for the former Te Rapa army base given to Waikato-Tainui by the Government in 1995 as part of a $170m land and cash settlement for confiscation claims, started nearly eight years ago.
Against vocal opposition from city retailers who feared the competition, The Base opened its first large-format retail stores in 2005, in a joint venture with The Warehouse Group.
In 2008 TGH bought out The Warehouse, and planning began for the showcase Te Awa retail and hospitality complex. The following year building of Te Awa started, and large-format retail development finished.
Stage 2 of Te Awa was started in 2010. In 2011 Te Awa stage 1 and 2 opened, and stage 3 started. Last year stage 3 and 4 of Te Awa opened. Te Awa has more than 100 retailers and the rest of The Base nearly 80.
- ? Fairfax NZ News
Source: http://www.stuff.co.nz/business/industries/8156107/Plan-to-start-200m-final-stage-of-retail-colossus
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