Stoneridge on Lunn retail space still available

Remaining food and beverage tenancies, have extensive outdoor seating for al fresco dining. Illustration / Artist's Impression

Nine service and convenience retail tenancies, along with three food and beverage tenancies, remain available for lease in Stoneridge on Lunn, Mt Wellington's new neighbourhood shopping centre.

"The centre is already more than half leased, a year from completion," says Chloe Franklin-Hall, retail broker with Colliers International who, with colleagues Nick Pettitt and Leroy Wolland, is marketing tenancies within the Lunn Ave centre that's being constructed by Nelson-based Gibbons, an established South Island large-format retail developer.

Due for completion in April 2020, Stoneridge on Lunn will be anchored by The Warehouse, Warehouse Stationery, Noel Leeming and Bed Bath and Beyond; and will draw customers from the affluent neighbouring catchments of Remuera, Ellerslie, Meadowbank and Glenn Innes.

The large format retailers will be complemented by a range of shops, services and eateries with Vivo Hair and Beauty, a high-end bakery and a nail salon already committed.

Café Melba will anchor the good and beverage precinct.

Pettitt says the remaining food and beverage tenancies, each with extensive outdoor seating for al fresco dining, are within a standalone building located between Lunn Ave's street frontage and Café Melba - which has almost 200sq m of seating outside its standalone building.

"The units will be built to high standards with design elements drawn from the latest hospitality trends," he says.

Pettitt says the standalone building could be split into one, two or three tenancies of between about 138sq m to about 450sq m plus outdoor areas.

"The south-facing tenancy fronting Lunn Ave, providing huge exposure to large volumes of passing traffic. We're looking for high-end, bespoke operators who will make a statement in the area."

Wolland says the 10,400sq m development will comprise 7758sq m of large format retail and 2642sq m of service, convenience and food and beverage retail.

"The units will all front an extensive on-site car park with 421 parking spaces, providing tenants with excellent exposure to Lunn Ave, Ngahue Drive or both," he says.

Convenient access to the car park will be given via a traffic light-controlled intersection from Lunn Ave. The centre will also benefit from pedestrian access directly from the Stonefields walkway.

Wolland says Lunn Ave is a very busy road with an average traffic count of about 22,000 vehicles passing per day, while Ngahue Drive sees around 26,000 vehicle movements a day.

"The fast-growing population of the primary trade area already has 36,000 residents within a 2km radius and 131,000 within a 4km radius; and it is projected to increase by 26 per cent by 2028."