Todd Property unveils Mainstreet at Pegasus

21/01/2014 - Retail & Commercial

21/01/14

Mainstreet at Pegasus has been unveiled by the Todd Property Group as the 4000sqm retail component of the new mixed-use town centre at Pegasus. When complete the town centre space will include retail, hospitality, commercial, residential and retirement living with a combined developed value in excess of $70m.

Hospitality, food and beverage and professional services will anchor the new retail development at the heart of the expanding Pegasus Township. Construction of the first stage of Mainstreet is intended to start in the second quarter 2014.

Designed by the award-winning architectural firm, Buchan Group, Mainstreet features a modern combination of glass, wood and other natural materials to emphasise the link between the buildings and the adjacent Pegasus Lake and parklands.

“Mainstreet will make Pegasus even more attractive as a residential offering and also provide a lifestyle shopping and dining destination for the surrounding community,” said Evan Davies, Managing Director of Todd Property Group.

“The state-of-the-art design and construction will make Pegasus a better place to work, visit, live, shop and do business.

“The new town centre will create opportunities for investment, new employment and attract additional visitors to Pegasus,” he said.

Todd Property Group unveiled the new designs and plans for Mainstreet at Pegasus almost a year to the day after buying Pegasus Town.

The rapidly increasing pace of progress at Pegasus was underlined recently by the sale of the 1000th section in the town. Growth is now occurring at a rate of approximately 50 residents per month.  By the end of 2014, total residential numbers are expected to be at 2000, with approximately 4,500 residents by the time town development is completed in 2018-19.

Residents living in the Pegasus catchment will be spending $150 million per annum on retail by 2021 and close to $200 million by 2031.

“The retail mix at Mainstreet at Pegasus will include everyday requirements as well as destination attractions.

“This will not only add to the attraction of Pegasus as a lakefront lifestyle destination but also serve a significantly extended catchment,” he said.

All units being built as part of the Mainstreet development will be unit-titled to give tenants the option of leasing, or purchasing and occupying their own facility.

Mainstreet has been developed on the basis of extensive research, analysis and expert opinion provided by retail consulting specialists, RCG Ltd (www.rcg.co.nz) and architects, the Buchan Group.

Tenancies are now available for lease and sale through Master Agent Jeremy Speight from Bayleys Real Estate.