National retailers moving into Dunedin's George St

Bargain Chemist is moving into the former ANZ building on the corner of George and Hanover Sts in Dunedin. Photo / Peter McIntosh

Four national retailers are setting up shop on George St, Dunedin.

Three of them are on the "Golden Block" between St Andrew and Hanover Sts.

Cut-price pharmacy Bargain Chemist will make its first foray into Otago, moving into the former ANZ bank building on the corner of George and Hanover Sts.

Swanndri will vacate the Meridian Mall and cross the road into a larger space at 282 George St, previously occupied by Alchemy Equipment.

A third retailer will occupy the former Jay Jays site on the corner of George and St Andrew Sts.

An electronic equipment retailer is relocating along George St to the former SpecSavers site at 140 George St.

The leases for the three Golden Block sites were signed in December, Colliers International commercial agent Dean Collins said.

"It is contrary to what you might read elsewhere about primary retail in Dunedin," Mr Collins said.

"It's quite positive."

Two of the leases had not been advertised on the market, he said.

"Tenants were actively pursuing opportunities in the Golden Block."

Bargain Chemist managing director Peter Shenoda said the George St shop was due to open at the end of February.

"This will be store No10 for Bargain Chemist," Mr Shenoda said.

"We wanted to be somewhere central that's accessible and we've got a big site."

The shop will have about 25 staff and will be open seven days a week.

"We are confident in the location but we also confident in our model."

The New Zealand-owned pharmacy chain aimed to open 30 stores nationwide, he said.

Swanndri chief executive Mark Nevin said the Dunedin outlet was moving from the Meridian to George St because the new space was better suited to what the company required.

"It gives us more flexibility than where we are at the moment," Mr Nevin said.

The new George St lease for 135sqm was slightly larger compared with 111sqm at the Meridian site, he said.

The plan is to open in mid-February.

The outdoor clothing firm moved into the Meridian in April 2017, he said.

Industry-One commercial property agent Daniel Senior said an electronic retailer already in George St would move into the former SpecSavers site next month.

The retailer signed the lease on the larger premises two weeks ago.

"I have been surprised how well retail has maintained its position," Mr Senior said.

"It's not like there's a whole lot of empty spaces."

A medical entity signed a lease before Christmas for the former OfficeMax shop, at 89 Great King St, Edinburgh Realty commercial agent Merrin Bath said.

Work on a substantial fit-out at the site had not yet begun.