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Home / Business / Companies / Retail

Welcome to Spooky Park

John Drinnan
John Drinnan
Columnist·
12 Mar, 2007 04:00 PM3 mins to read

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Many traders say weekdays are eerily quiet. Photo / Kenny Rodger

Many traders say weekdays are eerily quiet. Photo / Kenny Rodger

KEY POINTS:

Some prospective tenants dub it Spooky Park, but Sylvia Park retailers expect Stage Three of the complex will end the ghostly quiet trading on weekdays.

Stage Three - to open on March 29 - will incorporate a cinema and entertainment complex, and restaurant row and 44 retailers, making
Sylvia Park the largest mall in the country.

Stage One of the Mt Wellington complex opened to capacity crowds on June 12 last year and bargain-hunters brought traffic in the area to a standstill.

Although weekends have been relatively busy, Sylvia Park during the week has been deathly quiet, prompting some prospective tenants to give it the nickname Spooky Park.

Established tenants had not heard that term but agreed it was quiet and said trading had been below their expectations. They expect that the new stores will boost shopper numbers through the week.

Managing director of No 1 Shoe Warehouse, Gerard Peterson, was keen for a place at Sylvia Park but had been unable to find the right location.

The Spooky Park reputation during weekdays would be short-lived, he said.

"That is what retailers are calling it - all shopping is quiet during off-peak in weekdays but it is particularly quiet at Sylvia Park.

"We are at other malls such as those owned by Westfield and it is pretty even through the week and spikes on Thursday, Friday and Saturday."

Despite the nickname, retail space is highly sought after at Sylvia Park.

Sylvia Park owners the Kiwi Income Property Trust last week said the 20,000sq m Stage Three would open fully leased at the end of the month.

Counting Stage Four, set to open in June, only 3 per cent of the entire complex was vacant.

Chief executive Angus McNaughton rejected talk of untoward concentration of shoppers in weekends.

Data supplied by BNZ Marketwatch so far this year year showed 10 per cent of sales on Monday, 11 per cent on Tuesday, 12 per cent on Wednesday, 14 per cent on Thursday and 15 per cent on Friday, he said.

The 38 per cent in the weekend was similar to other shopping malls, said McNaughton, who said that Stage Three would give the complex a wider choice of retail, meaning more foot traffic.

Kiwi Income shares - which hit an all-time high of $1.66 last week - closed down 1c at $1.63 yesterday.

Five Sylvia Park tenants approached by the Business Herald were looking forward to Stage Three opening this month.

Only one - Bendon - said trading figures so far met expectations.

Life Pharmacy acting chief executive Des Flynn said weekday sales were probably 15 per cent down on expectations, largely because of the lack of foot traffic during Tuesdays, Wednesdays and Thursdays.

Weekends were below expectations, but closer.

"Our staff-to-sales ratios have gone out the window," Flynn said.

"We need to have a certain number of staff on duty for security reasons, but for a lot of that time there is not enough to keep them busy."

The owner of beauty store All About You, Tony Ahern, had not heard the Spooky Park nickname but said tenants talked about the periods of low foot traffic.

"It's been said that you could fire a shot down the mall at a certain time and be sure of not hitting anybody." he said.

McDonald's Restaurants country manager Mark Hawthorne confirmed that sales were below expectations.

He was less convinced that Stage Three would boost weekdays.

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