From the Timaru Herald

9 July 2006
By CLAIRE HAREN

Two major retail developments are planned for Stafford Street.

Stafford Mall is to undergo a multi-million dollar upgrade and name change over the next couple of years, while the O'Meeghans building – just south of Canon Street – is to be upgraded, the old Regent Theatre behind it demolished, and a new building constructed.

Both developments are likely to see more national chain stores move into Stafford Street.

Powerstore is to re-open its new-look store in the mall on September 1, and the plans for the O'Meeghans Building and Regent Theatre site show the new building will house a national chain store.

Cheryl Macaulay, co-owner of Stafford Mall and managing director of its management company Commercial Investment Property Ltd, said yesterday that plans were 90 per cent complete for the upgrade, including increased floor space and new tenants.

She said the project would be staged, taking possibly three to five years, and was likely to cost $3 to $5 million.

Demolition of some of the interior had begun, public toilets had been moved from the ground floor to the first floor, and the children's playground had been removed.

The focus in the first year will be completing a refurbishment of the ground floor and installing escalators.

"We need to get in there, open up those spaces, give it a new face. We need to get out of the 80s. It's dated, and sadly it's been dated a little too long."

Mrs Macaulay said that while some locals had a negative perception of the mall, when she described it to national retailers, they were interested.

"With the right tenant mix and the right decor, malls work extremely well. We've got a couple of national tenants waiting until we've got our marketing plan finished."

The mall has 100 per cent occupancy, but not all tenants were retailers, and the aim was for it to be a retail mall.

The redeveloped mall would see available floor space increased by about 500 square metres, to 4000 square metres, allowing about 25 retail premises.

Powerstore was scheduled to open the first of its new concept stores in New Zealand in the mall in September.

Christmas shopping could see much of the other significant work – including the installation of escalators – delayed until some time in the new year.

Mrs Macaulay said the time was right for the redevelopment, with people's expectations for shopping higher.

Further up Stafford Street, Invercargill-based Reedason Holdings has been given permission to demolish the old Regent Theatre and two storage buildings, and erect a new building to operate as a retail outlet for a major national chain store, with access off Stafford Street through the O'Meeghans building.

The O'Meeghan's building will be retained and refurbished for use as retail space. The building – 284 to 296 – is currently tenanted at street level by Vodafone, Trade Aid, May's Tea and Coffee House, Dingle Dell, and Our Kidz. There are also two vacant street-front premises within the building.