By ANNE GIBSON
The retail problems besetting Devonport Wharf have forced its owner to seek a cash injection, which means either selling it or finding a partner.
The Devonport Wharf Trust has instructed Bayleys Real Estate to advertise the wharf and ferry terminal internationally, with the idea of bringing in a partner or new owner.
Development options include adding another storey to the structure, opening one side of the long internal corridor to take advantage of the sea views, and improving the bus terminal.
Building apartments and a conference or entertainment venue are other ideas the trust is floating.
Most of the 24 shops on the wharf have been empty for some time, so the trust needs cash to redevelop the building and bring retailers and shoppers back.
"Everyone agrees that the wharf complex is in need of a significant redevelopment to make it function more effectively," said Retail Consulting Group associate director Desmond Wai.
Preliminary engineering investigations had shown the building was strong enough to take another level, he said.
This would increase the wharf's ability to accommodate uses in addition to retailing.
Retail Consulting Group was appointed this year to manage the wharf and advise on development options.
Remedial safety work required by the North Shore City has been carried out.
The stairs leading to the Torpedo Bay Bar and Grill caused safety concerns, forcing the restaurant to close its doors.
The wharf was built in 1992 and caters for over 1.5 million ferry passengers annually.
Bayleys agent John Urlich said marketing hinged partly on the build-up to the next America's Cup in 2002-2003. The Devonport Wharf Trust claims the present tenants pay $375,000.
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