Re:Start tenants get longer leases
Christchurch's Re:Start mall has been given a new lease of life.
The leases for the City Mall retailers have been extended until early next year as landowners realise the preparation of development plans for their sites is going to take longer than expected.
Central City Business Association manager Paul Lonsdale said tenants on the northern section of the precinct had already been given an extension, and those on the south side were due to sign lease agreements.
Most leases were due to expire next month, Lonsdale said.
"Essentially we will see Re:Start in this form for another year which is great."
Maureen Taane, co-owner of gift and homeware store Hapa, said they had received verbal assurances the lease would be extended but were "anxious to get it in writing".
"We're delighted with the extension ... we love being part of Re:Start," she said.
Scorpio Books manager David Ault said he was "very happy" with the extension.
"There are four different zones and they're owned by different people so everyone will have different plans and timelines," he said.
"Nobody has put a firm plan on what will happen with the containers ... I suspect they will move but I just don't know."
Nick Hunt, who owns land on the northern side of the mall, said Re:Start had been a "great success" but at some stage would need to go so permanent development could start.
Guthrey Holdings owns the land occupied by Johnson's Grocer, Contemporary Lounge and Hummingbird Cafe.
Peter Guthrey said the leases for tenants had been extended until early next year.
"We're making plans for our site and it will take time to complete ... the earliest we would be able to start is late this year so we've agreed that the leases go through until January."
- © Fairfax NZ News
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