Scruffy Stanley Road units to get high-end makeover
Scruffy industrial units on Stanley Road are getting a high-end facelift through a commercial development that could spark a mini-renaissance for the area and help alleviate housing issues.
The development is to be done in four stages funded by Gisborne-based Monte Capital Ltd, which is part of the Waikura Group which also owns Waikura Joint Stations and has several other business interests.
The four industrial premises at the site are to be bowled and replaced with a modern and environmentally-friendly development.
Waikura Group group manager Matt Feisst says the development will provide a combination of commercial and residential opportunities for up to 10 tenants across four building blocks.
It is the group's largest investment inside the city.
“The intention is to provide a development at the upper end rather than the lower end.
Mr Feisst said it would be carbon-friendly and sustainable
“For us, it's an expansion of our investment in Gisborne and the wider region.
“There's obviously been a fair bit of growth in Gisborne over the last five years.
“There is a lot of tired commercial accommodation and for us there is a bit of a gap in the market and a good opportunity to do something that stands out in a very good location.”
Mr Feisst says expressions of interest are being sought for the available tenancies and the company is also working with the existing tenants at the 8000sqm site.
“At this stage it's a ‘greenfield' start and re- development of the site.
“Stage one has the green light so we are under way. The aim is to have the keys ready for the end of the year, then the other blocks will follow on from that.”
It is hoped the development will also give the rest of the area a “new lease of life”.
“We are hoping to keep as much of the development as local as possible. We have Architects 44 as the lead architects and we will also be working with Bayleys for the marketing.”
Mr Feisst expects the development to be attractive to a range of businesses such as horticulture or larger contracting businesses who might have to bring in managers from out of town.
It will provide living space, which is difficult to get hold of in Gisborne.
Bayleys Gisborne salesman Colin McNab says the design of the tenancies could be changed depending on what the tenant wants.
“We already have some interest to take tenancies, however, the owners plan to build in stages, with four stages in total. This can, of course, be discussed in more detail.
“The people we've had inquiries from so far are people who don't just want the run-of-the-mill stuff. They want something they can be really proud off so their clients can see they are doing their job well.”
The accommodation situation in Gisborne also means the development is attractive because it offers on-site living possibilities.
“These will be nice premises. It's not just a flat above a workshop. It's going to be much nicer.”
Mr McNab said it would be developed along the same lines as areas around Auckland Airport.
“This is what Matt's aiming for.
“One of the businesses that is really keen to have premises there looked at several options in Gisborne but the image wasn't what they wanted to portray.”
Tourism-related businesses were also interested due to its close location to the city centre and Midway Beach.
The response had been “pretty positive”, he said, with inquiries from mainly locally-based people who wanted something better.
“It just shows there is a market there for something better.
“It's like a high-class shopping centre. People feed off the same sort of business.”