$5.5M Riccarton plan

Press, 28 September 1988, Page 14

$5.5M Riccarton plan

By

PAM MORTON

High Corp, Ltd, will build a five-storey office block and separate retail outlet in Riccarton Road early next year. The two buildings to be built on the “Taylors site,” an area bounded by Riccarton Road, Picton Avenue and Nelson Street, are expected to cost about $5.5 million.

High Corp’s property development manager, Mr Barry Flewellen, said the project was being completed in three stages. Stage one, the refurbishment of the Dunns building (next to the proposed building site), has already been completed. The two-level building was stripped and improved to meet earthquake safety require-

ments. It is now occupied by the Social Welfare Department. Stages two and three will include the construction of a 19,000 sq. m tower block and a 280 sq m retail block with a Riccarton Road frontage. Mr Flewellen said negotiations were still being held with tenants but Taylors Drycleaning, which is already on the

site, would remain. "We hope to have the foundations down by March and, if all goes well, the buildings should be completed between six and nine months,” he said. Mr Flewellen said the Riccarton site had the “magic ingredients” of good car parking and low office rental close to the city.