New development planned for Devonport Rd

Neil Craig, founder of Craigs Investment Partners. Photo / File

Plans have today been announced for a major retail development in Tauranga's CBD.

The major office and retail development is at 82-98 Devonport Rd will breathe new life into the city centre, Tauranga City Council said today in a statement.

Property development and investment company, Willis Bond & Co has plans to develop the 4300 sq m Devonport Rd site, which is currently the subject of a conditional sale and purchase agreement with the owner, Tauranga City Council, the council's statement said.

Craigs Investment Partners will likely be the anchor tenant for the building, which will feature a high-quality, mixed-use development approach incorporating commercial and retail spaces. Current plans envision a six-level, above-ground office space above ground-floor retail, with pedestrian linkages connecting Devonport Rd and The Strand with the waterfront and the Matapihi footbridge.

Willis Bond & Co Managing Director, Mark McGuinness said the venture solidifies a long-standing relationship with Craigs Investment Partners.

"We've worked with Craigs for over 30 years, so it is fitting that we're able to work on this project together, and support Tauranga City Council's efforts to revitalise the Tauranga city centre," he said in the statement.

Willis Bond & Co recently won the top architecture award for their Wynyard Central apartment development, along with a number of commercial property awards for their work on Wellington's PwC building.

"We've learnt a lot about what it takes to construct quality buildings and communities through our developments in Auckland and Wellington. This will be a landmark project for us in Tauranga and one we're very excited about," McGuinness said.

Craig Investment Partners chair, Neil Craig, said the company had outgrown its existing premises.

"The Devonport Rd development will cater for our 230 current staff and provide the space we need to grow," he said.

"We've been looking for a suitable waterfront site for some years now. This site meets all of our requirements and clearly signals Craig's intention to keep its head office in Tauranga for the long-term."

Mayor Tenby Powell said in the statement the decision to sell council-owned properties at 82, 84, 90, 94, 96 and 98 Devonport Rd to facilitate the development comes as part of a wider initiative to re-consolidate council's office-based services in a single location and revise the master plan for the future use of the Willow Street Civic Precinct.

"The master plan process has not progressed at all for close to two years and we need to clarify what our aspirations are for the Willow Street site and engage with hapu so that we understand the historic issues which may impact upon its development," he said.

A report setting out council's civic accommodation needs, with recommended actions to address the longstanding issues involved, was adopted by elected members at a public excluded meeting on 24 March. The report has now been made public (with redactions to protect commercially sensitive information) and will be made available on council's website.

The purchase price for council's Devonport Rd properties will be disclosed following the completion of a due diligence feasibility investigation, and confirmation that the sale is unconditional.