National retailers eye space in Cambridge development

31 May 2018

National retailers are lining up to take commercial space as stage one of the multi-million dollar Lakewood development in Cambridge nears completion.

Greenstone Group development manager Ben Jones remained optimistic commercial tenants would be able to fit out their shops soon, to begin trading. Stage one included the first of the retail areas and Lakewood Pavilions, which offered a combination of apartment-style living with food and shopping on the ground floor.

"Interest has remained high due to the shortages of both retail and office space in Cambridge," Jones said.

"We have many signed leases from national brand retailers looking to establish a permanent footprint in Cambridge."

National brands included Snap Fitness, Bay Audiology, Pita Pit, Liquorland, Vivo Hair Salons, Liquorland, Hell Pizza, Epiphany Donuts, The Coffee Club and an IT company.

"At present, we are awaiting sign off for tenants for the medical centre and titles for the early childhood centre."

Jones said there would be many other commercial opportunities as the other stages of the development were completed. An anchor tenant was yet to be signed for the Stables, designed to be the heart of Lakewood. It would encapsulate Cambridge's equestrian heritage and would include vaulted ceilings, large open spaces, opening directly onto the public seating area that overlooked Lake Te Koo Utu.

Work would soon start on the Barns which had been set aside for large-format convenience retail. A 36-unit motel complex, the medical centre, which included top floor office space, and the early childhood centre were also to be built.

"Plans are underway to make a start on the four blocks of townhouses, with some overlooking the natural beauty of Lake Te Koo Utu," Jones said.

"We will initially build a show home to give an indication of the planned housing style available. These will be marketed via Cambridge Real Estate."

On completion, Lakewood would feature a unique combination of waterfront shopping, spacious public areas, boutique retail and parking.

- Mike Bain, Stuff

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