Porirua's MegaCentre could undergo a major expansion on a half hectare site now being sold by Capital City Motors.
The car dealership has moved to a new service centre in the MegaCentre opposite Spotlight and is now selling its old yard between The Warehouse, Briscoes and Harvey Norman.
The 4754 square metre property, which includes a 1580sqm showroom, has a rateable value of $4.21 million.
Colliers International agent Chris Gollins said he had been waiting 16 years to get a chance to sell this property.
"When we first began securing the 12 properties in this area which now comprise the MegaCentre Porirua, for Land
Equity Group in 1996, the Metro Ford site was seen as the most crucial.
''We tried for three years to persuade the owners - the Dyke family - to sell, but the chance of being in the middle of such a customer-pulling attraction by default was too appealing for them.
The Colonial Motor Company bought the property from the Dyke family in 2006.
"Now the MegaCentre has grown around the site and may soon expand even further making this property more appealing than ever.''
This was the highest profile site in the 12ha centre and prospective retail tenants for a redevelopment were already showing interest.
''Most retail developers are careful not to leave the back door open to competition but here suddenly the front door is wide open."
It was a large site with a drive-through lane and the hundreds of adjacent car parks made it an attractive proposition for all but the biggest bulk retail outlets, Gollins said.
Tenders close on September 6.
- © Fairfax NZ News
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