Media company Fairfax NZ Ltd has signed up as head office tenant in Progressive Enterprises Ltd’s $95 million Cider development on the former Soho Square site in Ponsonby.
And Progressive’s property general manager, Adrian Walker, said after a tour of other Countdown supermarket construction sites yesterday the Ponsonby success – and the pressure of intensification in Auckland – would encourage the company to consider more mixed-use developments.
Cider is the commercial half of the development on the old DYC vinegar factory site, which sits behind a row of Ponsonby Rd buildings on 13,609m² between Pollen St, Crummer Rd & Williamson Avenue. The other half is Vinegar Lane, 31 home/office lots sold individually, some reselling for up to $6000/m² and development on others underway at up to $13,000/m².
Although Progressive filled in half the basement area dug out for the 37,000m² Soho Square development previously planned for the site, Cider & Vinegar Lane combined will have 674 parking spaces – 239 for the supermarket, 281 for the shops & offices, 154 for Vinegar Lane.
Fairfax will spend $7 million fitting out offices for its 500 Auckland staff in 3700m² on 1½ floors of the 3-level 7930m² office component. They’re scheduled to move from offices nearby on Hereford St and along Karangahape Rd next June. Fairfax will have naming & signage rights.
The 4380m² Countdown supermarket, with entry at ground level, is scheduled to open in March.
Mr Walker said all but 3 of the 11 specialty shops had been leased in 920m² of the development to food & convenience outlets, and a number of prospective tenants for office & retail areas were working through internal reviews.
“It’s obviously not what we’d normally do, but it’s such a good scheme it gave us an opportunity to revitalise that end of Ponsonby,” Mr Walker said. Would Progressive repeat it? “If we had the right site, yeah. It is something that will occur more, definitely around Auckland, because from intensification the ability to get sites will become very limited.
“Supermarkets will have to be contained in mixed-use developments, and existing sites which house supermarkets currently will be intensified.”
But yesterday he was on tour in more open spaces, visiting the construction sites for new Countdowns at Omokoroa, on Tauranga’s northern outskirts, and at Claudelands in Hamilton, and a Fresh Choice store in Rotorua.
The new Countdown at Hobsonville village opened a fortnight ago, another will open in the NorthWest Shopping Centre at Westgate tomorrow, and others are under construction in Blenheim, Queenstown, and a Fresh Choice at Green Island, over the hill south of Dunedin.
Image above: An artist’s impression of Fairfax’s new office on the Progressive Enterprises development in Ponsonby.
3 September 2014: Ebert gets Cider contract
9 September 2013: Progressive’s Cider & Vinegar Lane project gets resource consents
26 August 2012: Ponsonby site goes from maxing-up to individuality
24 August 2012: Cider & Vinegar Lane to replace Soho – it’s different
1 July 2011: Progressive to build supermarket over Soho Square hole
4 November 2008: Bigger Soho Square rejected – but commissioners encourage an amended version
Attribution: Company interviews.