Developer has big plans for Five Mile

The new project will include a supermarket as well as restaurants, bars and cinemas. Photo / Supplied

The abandoned Five Mile property scheme in Queenstown has gone to Auckland developer Tony Gapes, who is planning a $125 million retail and shopping project.

Gapes' Queenstown Gateway now controls the Five Mile land where Christchurch developer Dave Henderson once had big plans and dug a hole for a 1200-vehicle carpark.

Gapes, of Auckland business Redwood Group, bought the site gradually from Allied Farmers after Henderson borrowed $72.4 million from Hanover to develop Five Mile at Frankton Flats on a 31ha site adjacent to Queenstown International Airport where a new township was planned. Allied Farmers got involved after buying Hanover businesses.

In August, Gapes said he wanted to produce a mixed-use concept on the land.

"It will have a specialty retail-themed village anchored by a Countdown supermarket, plus national and international retailers and a residential component. It's a potent mix, designed to attract local and international brands and consumers," Gapes said.

Last week, the Otago Daily Times reported on plans for a 38,000sq m project of two and three-storey levels, a large central carpark and entertainment junction of bars, restaurants and cinemas.

Project planning consultant John Edmonds said a bulk retail precinct would be developed, featuring up to seven large outlets including sports, furniture and homeware shops with a glass-enclosed area for 40 to 50 fashion and food stores in a mall based around a two-level department store.

A 4200sq m Countdown is planned to be Queenstown's biggest, acting as a retail axis alongside big-box retailers.

Gape's Auckland projects include Scene One, Two and Three, waterfront apartments between Quay St, Beach Rd and Britomart Place as well as the Eden One and Eden Two apartments in Mt Eden.

Four years ago, after weathertightness issues at some projects, Gapes moved to one of the world's driest areas, Phoenix, Arizona, where he was building a condominium project, O4, marketing 84 units from US$350,000 ($463,000) to US$500,000 each.

GAPES' BIG PROJECTS

* Scene One, CBD - $48.5m
* Scene Two, CBD - $42.2m
* Scene Three, CBD - $62.7m
* Countdown, Quay St - $25m
* Silverfield Terraces, St Lukes - $12.1m
* Regents Park, Henderson - $7.7m
* Omaha - $7.5m
* Normanby Mews, Mt Eden - $9.5m
* Eden Commercial, Mt Eden - $62m
* Aqua Luna, Melbourne - $22m
* Apex Duo, Mt Wellington - $10m
* Apex Retail Centre, Mt Wellington - $100m
- Source: Redwood Group

- Additional reporting Otago Daily Times