Husain Ali's Century Group is pre-leasing its $12 million bulk shopping centre planned for a Mt Wellington site.
Having finished a block of as-yet-unlet shops on Takapuna's Hurstmere Rd, Century has now moved its focus to a block of land near the motorway.
Home Central, a development plannedfor Century's land at 400 to 450 Mt Wellington Highway, is a 16,014 sq m site for 10 shops and parking for 209 cars.
Ian Redshaw of Century hopes to rent the 5700 sq m of shops for around $220 sq m.
The development is scheduled to be completed by February, depending on pre-leasing commitments from other tenants.
Mr Redshaw says 41 per cent of retail trade in Auckland involves furniture, appliances, hardware and other household goods classifications: "But this substantial retail sector is largely uncatered for."
Nor has it missed his attention that Kiwi Income Property Trust has a $500 million development in the pipeline for the site across the road, although this proposal is not scheduled to make it to the Environment Court until the third quarter of this year.
