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NZ Herald
3 days ago
- NZ Herald
New World Pt Chevalier to open next to derelict building and abandoned tyre site
Next door is a third of a hectare ex-Magnum Motors corner site, also fronting 8 Parr Rd North but looking in very poor shape. New World Pt Chevalier, Auckland nearing completion. 22 July 2025 New Zealand Herald photograph by Jason Dorday The contrast between the two sites could hardly be greater. How did such a situation arise and what do council and local board people say about it? The state-of-the-art supermarket is aiming to draw tens of thousands of shoppers weekly in the suburb, which currently only has a small Woolworths. The unsightly empty site next door is owned by New Zealand-registered company Hobson One. Its director is Zhengzheng Guo of Remuera. Derelict buildings in front of and around the New World Pt Chevalier which is planned to open in August. Photo / Jason Dorday He has applied for resource consent for apartments to be built in blocks beside the New World. But he is yet to succeed. 'An application was lodged in December 2024 for a three-storey mixed-use building - retail and residential,' a council spokesman said. The application was now on hold, awaiting further information, the spokesman said. Advertising showed he did try to sell the site two years ago, before downscaling plans. In June 2023, he advertised it with Bayleys. 1150-1160 Great North Rd, Pt Chevalier, Auckland, outlined in red. This was in 2023 when Bayleys' agents were marketing the property for sale. Since then, the New World Pt Chevalier has been built on the ex-RSA site next door (above the red line). Photo / Bayleys The big lot was marketed as a development site, with a 177-unit resource consent. Bayleys agents Gerald Rundle and Marty van Barneveld marketed it but were unsuccessful in selling it. Derelict buildings in front of and around the New World Pt Chevalier which is planned to open in August. Photo / Jason Dorday 'The development potential of the site under the zoning has been greatly enhanced by an approved Resource Consent for an eight-level [including basement] development of 177 apartments and three ground-level commercial units over approximately 18,000sq m according to the consented plans,' Bayleys said. Construction progresses at the site of the new New World Pt Chevalier on Great North Rd, Auckland. The store, developed by Foodstuffs North Island and designed by Wingate Architects, is due to open later this year. Photo / Jason Dorday The new supermarket has been set back from the street, with a partly covered walkway now being finished beside the Kumho Tyres building, short-stay parking out the front and a big underground basement for parking. Auckland Council documents describe buildings on the Hobson One site: '1150 and 1158 Great North Rd are occupied by a vehicle workshop, tyre shop and paint and panel beaters. Plans for apartments on Great North Rd beside the new $73 million New World Pt Chevalier. Photo / Auckland Council consent documents 'Built development within these lots comprises two-level industrial style buildings located centrally with a canopy extending over the forecourt in front, a double garage and electrical transformer at the rear of number 1150, and concrete/asphalt driveway and parking areas across the remainder of the land,' the council document says. A larger scheme was once planned. Consent was granted non-notified on February 20, 2023, for an eight-storey apartment block, with basement parking, three commercial units and 177 dwellings, the council noted. Derelict buildings in front of and around the New World Pt Chevalier which is planned to open in August. 22 July 2025 New Zealand Herald photograph by Jason Dorday But the market changed and now only about 50 units are planned. 'Given the changing demands of the market, the applicant wishes to achieve a similar development in terms of land use, albeit on a much smaller scale in terms of the height of the built form, but also notably the depth and volume of earthworks required will be significantly less,' the council document said. Kendyl Smith, chair of the Albert-Eden Local Board, said the site was private property which the council had boarded off. Smith was aware of safety and crime concerns. New World Pt Chevalier, Auckland nearing completion. Photo / Jason Dorday 'The council is actively working to maintain safety in and around this site, which involves working with the property owner to determine the next steps,' Smith said. The board had completed a review of crime prevention through environmental design in the wider area, Smith said. That identified safety-related improvements for Pt Chevalier. New World Pt Chevalier, Auckland nearing completion. Photo / Jason Dorday 'There are also ongoing patrols of the area from the council's community safety wardens, working with NZ Police,' Smith said. 'We're also looking forward to the new modular library, with full library services, joining the town square this October.' The New World opening would provide a welcome addition for locals and for the wider village, Smith said. Kāinga Ora has also developed new social housing in the town centre. This shows work on the block, long since finished. These are the new state homes in Pt Chevalier. Photo / Michael Craig On the corner of Great North Rd and Pt Chevalier Rd, a block of apartments was imported fully built from China. That is for people aged 55-plus moving into or from existing state housing. Kāinga Ora contracted Tawera Group and Teak Construction on this job. They assembled the 61-unit block of single-bedroom new units. Kāinga Ora said the modular homes were all one-bedroom apartments to cater for high demand for those types of places. They are single, factory-built modules. Last year, when New World Pt Chevalier was being built, and the home next door. Photo / Jason Dorday A man in his 90s is yet to find a buyer for his home next to the new supermarket. The Herald reported last year on 12 Parr Rd North. That has been in Albert John Andrews' family for 70 years. Foodstuffs said last year it had been working closely with the family, other neighbours and the community throughout the build process. Anne Gibson has been the Herald's property editor for 25 years, written books and covered property extensively here and overseas.
NZ Herald
7 days ago
- NZ Herald
Inflation up 2.7% in June year, better than expected
NZ Herald Business Editor at Large Liam Dann speaks to Ryan Bridge on Herald NOW, ahead of the second quarter inflation figures being released. What is predicted? Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech. Access to Herald Premium articles require a Premium subscription. Subscribe now to listen. Inflation up 2.7% in June year, better than expected The consumers price index (CPI) increased 2.7% in the 12 months to the June 2025 quarter, according to figures released by Stats NZ today. The 2.7% increase follows a 2.5% annual increase in the 12 months to the March 2025 quarter. 'Although the annual inflation rate increased from the March 2025 quarter, it remains within the Reserve Bank of New Zealand's target band of 1 to 3% – the fourth consecutive quarter it has done so,' prices and deflators spokesperson Nicola Growden said. Economists had forecast a rise of 2.8 or 2.9%. Lower petrol prices helped mitigate rises in other areas such as food.
NZ Herald
18-07-2025
- NZ Herald
NZ sharemarket dips despite strong US and Australian gains
Strength on Wall Street followed stronger-than-expected economic data, including a 0.6% gain in retail sales in June after a 0.9% fall in May, which gave more weight to the view the US Federal Reserve will not change rates any time soon. Australian stocks were also sharply higher towards the end of the New Zealand business day, driven mostly by resource sector stocks. 'It's a bit surprising that Australia is up so strongly, but our market was not participating at all after another quiet news day,' Salt Funds managing director Matt Goodson said. Weighing on the index was Fisher & Paykel Healthcare, which will hold an investor day in Melbourne on Wednesday, the stock finishing 21c or 0.57% down at $36.54. Fletcher Building, despite releasing a downbeat quarterly report, bucked the trend to end 9c or 3.03% higher at $3.06. Goodson said Fletcher's gains showed investors were willing to look through the data and take a long-term view. 'Markets are forward-looking and always trying to look through to a change in the cycle, which will occur at some stage as interest rate cuts kick in,' he said. Auckland International Airport dropped 12c to $7.66 after firming yesterday. Research firm Morningstar noted the Ministry of Business, Innovation and Employment had been reviewing the regulation of airport services and had said it was not considering a legislative change for the airport. 'The bottom line: we maintain our $9.30 fair value estimate,' Morningstar said. 'Shares are undervalued. 'We think the market is unjustifiably pricing either lower returns on regulated expenditure or weakness in unregulated businesses, like retail and car parks,' Morningstar said. Among the small-cap stocks, the lower-tier aged-care firms performed strongly. Leading the charge was Third Age Healthcare, up 40c or 10.7% at $4.15. Promisia Healthcare gained 5c (9.6%) to 57c after releasing a performance update showing group care occupancy for June 2025 averaged 87%. In the same camp was Radius Healthcare, up 3.5c (9.6%) at 40c. It was the last day of trading for NZ Wind Farms, which is being taken over by Meridian. 'It really continues a trend of smaller companies delisting and of there being no real pipeline of new ones coming on, which has to be a concern,' Goodson said. 'If you're not in the index, it's very hard for these small companies to get attention.' Looking ahead, the Consumers Price Index for the second quarter is due on Monday. ANZ expects the index to have lifted by 0.8% quarter-on-quarter, with annual inflation accelerating to 2.9%. The bank said the data would need to show a 'sizeable upside surprise' for the Reserve Bank to take an expected 25-basis-point rate cut off the table at the release of its Monetary Policy Statement of August 20. Jamie Gray is an Auckland-based journalist, covering the financial markets, primary sector and energy. He joined the Herald in 2011.
