Hawke’s Bay-based property development firm TW Property has bought Flaxmere’s village shopping centre, returning the site to local ownership after 17 years.

TW Property purchased the 2.17ha shopping centre from Hong Kong-based Sung Family Trust, which has owned it since 2008, for an undisclosed sum.

Built in the 1970s, the shopping centre houses more than 20 tenants and over 160 car parks.

TW CEO Terry May told the Local Democracy Reporting that community infrastructure and amenities are essential as Flaxmere is an “up-and-coming” suburb that will appeal to first-home buyers and young families.

May said his company would work with Hastings District Council to create a long-term master plan for the shopping mall and the town centre.

He plans to collect ideas from residents during the Flaxmere Community Day in April before making any major changes.

Hastings Mayor Sandra Hazlehurst expressed her joy that the shopping centre is back in local ownership, and that the new owners are committed to revitalising the complex.

Flaxmere Ward councillor Henry Heke said the purchase is a game-changer. “It’s fantastic to see local investors like TW Property stepping up with both the resources and the commitment to revitalise what has become a tired town centre,” he added.

One of the owners of the independent Flaxmere Supermarket in the village shopping centre believes the change will be good for business.