Faradays plans to open a department store on Auckland’s Queen St in August, marking an expansion and contributing to activity in the CBD.
CEO Edward von Dadelszen leads the $30 million project in partnership with property developer Andrew Krukzeiner and Mark Francis. The group believe the development will reposition Queen St as a retail destination in New Zealand and has made a long-term commitment to the domestic market.
“This will be a space that is globally inspired while remaining deeply connected to Auckland. Beautifully balanced – modernity within a heritage building, refined yet inviting,” von Dadelszen said.
Located at 131 Queen St, the 3000sqm store spans three levels within the heritage-listed Milne & Choyce building. Fearon Hay Architects is leading the project, combining the existing structure with a design approach described as a ‘conversation between past and present’.
“131 Queen St sits in the context of the continued establishment of global brands, and the pending sea-change expected from the imminent opening of new central city stations and the connectivity of rail,” Fearon said.
Retail space will include categories such as fashion, beauty and lifestyle, alongside food and beverage and concierge services. The ground-floor space of 1200sqm has dual frontage onto Queen St.
Faradays indicated it will split revenue between retail and services. In parallel, the company is developing a new e-commerce platform to expand customer reach.
The expansion reflects a shift from a boutique model in Parnell to a multi-channel structure combining a flagship store, in-store experience and digital platform.
The Parnell store, which opened in 2021, will be restructured under new management and ownership. It previously operated within the Textile Centre, housing brands including Alaïa, Celine and Loewe.
The move comes as department stores face pressure from reduced consumer spending. Faradays said it will continue to pursue a long-term strategy and referenced heritage preservation and support for designers.
Auckland Mayor Wayne Brown said the project will support activity in the CBD, reinforcing Tāmaki Makaurau’s position as an international urban centre.
