The business unit development, The Cube on Queen, is to be constructed at 431 Lower Queen Street on a site with Mixed Business zoning giving it wide appeal to small business operators, start-ups, logistics providers, tradespeople, online retailers and local residents looking for storage space.
The smartly-designed freehold unit-titled complex is being undertaken by seasoned local developer Collett Group, which has been active and successful in the residential market for more than 25 years.
Building work will be done by Coman Construction, another established local firm that has played a proactive role in the property development sector in the wider Nelson-Tasman Region since 1987.
Paul Vining and Dennis Christian, Bayleys Nelson, are selling the 45sqm – 146sqm units down from the plans with buyers needing a 10-percent deposit, and prices starting at an entry-level $315,500 plus GST, if any.
Vining said post-COVID, there’s increased demand for business premises for smaller operators and these first release units – expected to be completed late-2022 – will add much-needed inventory to a tightly-squeezed property market.
“The developers recognised the need for an accessibly-priced business hub offering well-planned flexible workspace in Richmond on the back of a growing population and sound underlying regional fundamentals,” said Vining.
“The concept they’ve come up is already resonating with the local market, with five of the 26 units in the first release already sold.
“Given the size of the units on offer and the unit-titled model, the 21 remaining units available in the first release will appeal to owner-occupiers looking for well-located space that they can own themselves, rather than being beholden to a landlord.”
Vining said the pricing structure means it’s a viable proposition for small business owners – particularly those who reside in the area, and/or those working across the wider Nelson-Tasman district, as there are locational advantages to being just a kilometre from State Highway 6 which runs north and south.
“Along with being well-sited to leverage off the growth dynamics in the region, concept plans for the development show a functional complex with a stylish colour palette, plenty of greenery and ideal access for deliveries.
“There’s ground floor entry to all units, direct access from Lower Queen Street designed to accommodate up to 11-metre truck movements, 6-metre-high stud ceilings allow for maximum storage capacity, and each unit has dedicated parking.”
Along with quality exteriors, Christian says as standard, the units feature a modern kitchenette, an accessible WC, a remote operated 3.3m high roller door, clear roof panelling, fibre internet connection and a fire alarm.
“For an added cost, there is the option to incorporate a mezzanine level for additional floor area to utilise as office space or extra storage,” he said.
“These will be very functional workspaces with a great community feel and looking at the renders for the property layout, the communal area adds value to the development, and could come alive at lunchtime being a great spot for a coffee cart to operate.”
The Cube on Queen is close to the Berryfields, Appleby Fields and The Meadows residential subdivisions which are adding around 1,200 new homes to the area.
Nearby, there will be restaurants, cafes, a school, a cinema, lifestyle village and a proposed day-care centre will be adjacent to The Cube development.
The site is 1km to Richmond’s main street and Richmond Mall, 9km to Nelson Airport, 14km to Port Nelson and 15km from the Nelson CBD.