Savills agents Jesse Paenga and Ryan Geddes, who completed the leasing deals for the brand new retail development ‘The Crossing’ believe that this new development will be a game changer for the Christchurch CBD.
A new shopping experience
Christchurch shoppers are experiencing ‘mall fatigue’ and are hanging out for new shopping experiences, and The Crossing is the first development to open in the CBD that has sufficient mass of international and local retailers to truly compete with the malls.
Ryan Geddes comments that “The Crossing will transform the CBD into a completely new shopping experience for Christchurch. There’s a large section of the population who have never experienced fully-functional CBD shopping. The Crossing will bring a broad retail offering, with more shops and include several retailers that we’ve never had in Christchurch before.”
Savills is also leasing food & beverage spaces on the ground floor of the Hoyts development on Colombo St, which, along with The Terrace, will cement the CBD’s night-time customer base and provide a real point of difference that the malls are unable to compete with.
A step forward for Christchurch
The success of The Crossing will demonstrate that Christchurch residents are ready to return to the CBD for their shopping and entertainment.
The Crossing is therefore a key indicator for the success of the entire central city retail precinct and also for the ‘Blueprint concept,’ which is the blueprint of the Christchurch central recovery plan to redevelop and rebuild in the aftermath of the major earthquakes of 2010-2011.
Ryan adds, “If The Crossing is as successful as it is expected to be, it will help attract a residential and commercial population back to the city. This will prove the whole Blueprint concept as valid, and will take Christchurch one big step further towards becoming a booming city.”
A test scenario for other retailers
One of the major retailers who will be opening shop at The Crossing will be fashion megabrand H&M, and this will be their first South Island H&M store. It will be a huge drawcard for pulling the public in from all over the region.
Jesse Paenga comments that big brands such as H&M will have significant positive impacts on the area, “This is the only place you’ll see local Christchurch retailers sitting beside H&M, one of the largest retailers in the world. If it’s successful, more retailers will come and further enrich the mix.”
Dozens of retailers, including Australian and New Zealand chains, have been talking to Savills about reopening in the central city. Usually they will look at historical trading data before deciding to lease space – but this doesn’t exist for the past five to six years due to the earthquakes. Instead, they’re waiting for The Crossing’s opening to bring sustained numbers of customers to the CBD and will make decisions based off this data.
The success of the international and local brands that Savills has signed into The Crossing will therefore provide the catalyst for a number of tenants who are waiting in the wings to commit to the city.
Jesse says: “The commitment of the international tenants we have already signed into the CBD including H&M, Hoyts, The Country Road Group and Lululemon have given confidence to other brands to follow suit and The Crossing’s opening will continue this trend.”
H&M Launch Video
Watch the video of the H&M launch at The Crossing in Christchurch.