Farmers leaves Cuba St, Wellington, seven new retailers to move in as part of new development
Artists' impressions of what 106 Cuba St (yellow building), 104 Cuba St (white building next to it) and 96-102 Cuba St (Farmers building) will look like once completed.
Farmers department store will not be returning to Wellington's Cuba St.
Developers confirmed Farmers let its lease lapse after it moved out following the November 2016 earthquake. It has not applied to renew it.
This news comes as Willis Bond & Co reveals its plans for the quake-prone heritage building, which will be redeveloped to include seven retail stores on the ground and two levels of office space above.
Work on the $40 million project is expected to begin in July, and will be completed by the end of next year.
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Last week, it was revealed the property development firm was planning to demolish three buildings on the Victoria St side, which once housed Farmers' homeware section and some car parks.
On Tuesday, Willis Bond & Co director David McGuinness said in addition to that, the building that was once home to Matterhorn and Rex Royale, was also being demolished as it had no heritage value and was less than 5 per cent of the new building standard.
The building next to it, which used to be leased to Mr Bun and most recently, Japan City, would be strengthened and redeveloped, he said.
The plan for the former Farmers building was to split it into two sections, one on the street front and the other behind, McGuinness said.
The front section would then be split into about seven stores, and the back would become a food precinct or supermarket, he said.
"The thinking is there, that once we put apartments and offices on the Victoria St side, we are hoping that that will provide a link through and amenity for the whole precinct.
"A little bit of a mini-city is the thinking. A little bit like Chews [Ln] was, but this is the Cuba version 10 years later."
The strengthening and redevelopment of the former Farmers building is expected to be completed by the end of next year.
There had been a lot of interest from retailers wanting to move sites, as well as new retailers which had not yet set up shop in Wellington, McGuinness said.
The whole project, including the redevelopment of the Victoria St side which will include an apartment tower and office block, will cost $200m. The project would create up to 400 jobs.
"It is a significant investment and a vote of confidence in Wellington," McGuinness said.
"Important to the project has been maintaining the listed heritage facades of the former Deka and Farmers building, and other heritage features that are so much part of the Cuba St charm and personality, but ensuring they have the strength and amenity for the 21st century."
Two floors of office space will be built above the retail ground floor.
The office spaces would meet the growing need for modern workplaces in Wellington, he said.
Since the November 2016 earthquake, Cuba St has lost a number of retailers including Farmers, Rex Royale, Japan City, Mandatory and Cuba Fruit Mart.
Despite this, McGuinness said he did not see a drop in interest in the area.
"In fact, it's probably the opposite, it's growing and this [development] will take it another step forward."
- Stuff
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