Taupo retail taking off

K&K FashionsPlans for an inner city retail precinct in Taupo as well as further afield are taking shape after the appointment of international real estate agency, CBRE Retail Services, to promote the area.

Australian craft and home furnishing store Lincraft is moving into a 1500sqm site in the Totora Point retail centre, which was formerly occupied by 100% Electric. The company has more than 70 stores across Australasia, and is taking an eight-year lease which will begin in July. Lincraft’s first New Zealand store opened in South Island during 2011.

The 140sqm NZ chain K&K Fashion, which is also establishing itself in Taupo, represents the twenty-second outlet opened nationwide. The site was formerly occupied by Hillary Fashions.

CBRE NZ national director of retail services,Grant Unsworth, said the new retailers are “great deals” for Taupo and that the central North Island town is attractive because of its tourist pulling power.

Plans for an inner city retail precinct in Taupo are also moving forward.

CBRE Retail Services is currently working to attract retail brands into new floor space which has been built in the Victoria retail complex, which is anchored by the Farmers department store between Victoria Ave and St Hill St.

Jonathan Curtis, associate director retail services at CBRE’s Auckland office, said the development of Victoria retail centre sites envisages seven fashion stores fronting the avenue, with six food outlets facing the Farmers car park side of the complex.

He said the developments will breathe new life into Wanganui’s fashion and food precinct and offer more lower North Island retail potential.

Unsworth added that it was also an opportunity for building owners who are looking to improve their tenant mix.

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