Cinemas, shops likely in F.T.C. development

Press, 14 March 1987, Page 8

Cinemas, shops likely in F.T.C. development

The development of the Farmers Trading Company property in Colombo Street and Gloucester Street by the new owner, Chase Corporation, Ltd, is still under investigation but may well include a cinema and retail complex. When the Chase Corporation bought the Fanners property from Mainstay Properties, Ltd, at the end of January it said it had no immediate plans to develop F.T.C. Mr Peter Cross, joint managing director of Chase’s property division, said the property was bought to secure the site for F.T.C., a wholly owned subsidiary of Chase Corporation. But Chase has been investigating sites for a large cinema complex for som months and yester-j

day Mr Murray Hindle, general manager of Chase’s Auckland properties, confirmed that F.T.C. was being investigated for a cinema complex development. He said it was still too early to be certain of the plans or the site but the aim was to construct a multi-cinema complex, including at least three

cinemas, and specialty retail shops within the FTC site. He emphasised that the complex would function separately from the Farmers Trading department store. The proposal, he said, would be to combine the two ideas in one centre in much the same way as the Mid-City complex in central Auckland.