Retail giants expected to land in New Zealand

New Zealand is looking to be flooded with retail giants from around the world, according to a new study from Colliers International. The study indicated that with an impressive collection of new retail hotspots due to arrive, it is the perfect time for external brands to finally dip their toes into the kiwi marketplace.

Commercial hotspots include the Westfield Newmarket 277 centre in Auckland and Precinct Properties’ Commercial Bay. The appealing new spaces hold an asset value of $2 million or under, according to Colliers’ report.

Chris Dibble, the director of Research for Colliers international commented on the upcoming trend. “This will see a re-rating of retail asset values in 2019 with those likely to experience uplifts being the owners of assets with supportive demographic catchments, not overly weighted towards clothing and fashion and those transitioning into more experiential, entertainment and food and beverage offers.”

Offshore retailers who may be of interest include Uniqlo, the Japanese casual wear retailer and Muji, who specialises in both apparel and extended homeware.