Mall development in New Zealand

Press, 17 November 1982, Page 21

Mall development in New Zealand

The first time the word ''mall" came into common use in New Zealand, many Sle insisted that shopping s would be complete and utter failures. Mall was such a foreign term, that for some time broadcasters referred to it as "mal.” On a visit to Auckland to look at office development, a real estate agent and valuer, Mr R. R. N. Livingstone, discovered what was really needed was better shopping facilities. With extensive knowledge of shopping malls, gained from travelling overseas, he proposed to marry three stores within one building. His timing proved perfect. A representative of Hammerson Property and Investment Trust, Ltd, visited Auckland for the day and through his own confidence in the venture, he managed to convince the firm to provide financial backing to the tune of one million pounds. Lynn Mall was opened in Auckland in 1963, and was to be the first of many which the firm of H. G. Livingstone, Ltd, would eventually manage. Riccarton Mall followed in 1965: South Mall in

Manurewa. Auckland, in 1967; CML in Queen Street, Auckland, in 1972; National Mutual Arcade in Christchurch, in 1981; and the Triangle Centre, 1982. Livingstones are associates of Jones, Lang, Wootton, world-wide property consultants. Servicing all the J. L. W. clients throughout New Zealand, Livingstones is responsible for the management of between $4O and SSOM worth of property. “Developing and leasing shopping malls is not a game for amateur," Mr Livingstone warns. His firm must be regarded as one of the leading, financially successful business in New Zealand and it has come about from sheer hard work; “I. don’t pretend to be clever, but I am industrious,” Mr Livingstone says. His property assessments are based on strict criteria, with the site and finance being the top priorities. Not only should tenants have sound backing finance, but their capital should extend to shop fittings, stock, outgoing payments and a reserve cash fund, he says. Because of this, Livingstones monitors the weekly

trading pattern of tenants. Choice of site is important. It has to be large enough to expand and should be in a good trading position. The two basic incredients have given Livingstones plenty of faith in the future of the Triangle Centre. The boundaries of the Triangle Centre front on to Colombo, Cashel and High Streets and Mr Livingstone believes that the property is the most valuable block of retail land in Christchurch. Another key element in the success of a shopping mall is the choice of tenants. "A good balance of chain stores and owner-operated shops is essential,” he says. As well, Livingstone’s policy is to establish a merchants’ association, consisting of representatives of the tenants. This enables a good partnership between retailers and landlord, Mr Livingstone says. Once set up, it is the association’s job to manage its own affairs. Members of the Triangle Centre Merchants’ Association Committee are Mr M. Napper (chairman), Mrs A. Roberts (deputy chairman), Mr R. Danielson, Mrs R. Cotton, Mr R. Donnell, Mr A. Newton, Mr Leigh.