Council welcomes proposed investment in the central city
Nelson City Council welcomed today’s announcement from the Cephas Property proposing a substantial investment in Nelson’s city centre. Cephas has acquired a significant block of land beside Wakatu Square with plans to create an urban shopping precinct in the heart of the CBD.
Mayor Rachel Reese welcomed Cephas Property’s Managing Director Mr Baigent’s commitment to Nelson. "Mr Baigent has been clear that this is a unique opportunity and one that involves a significant investment from a Nelson family-owned business. We look forward to engaging with Mr Baigent’s team on this concept."
Chair of the Governance Committee Councillor Ian Barker appreciated Mr Baigent’s early engagement with the Council on this significant commercial investment in the CBD. "It's exciting to have a new investment proposal like this come forward."
Cephas had met with the Governance Committee on 6 September to provide a commercial overview including potential interest in acquiring part of the adjoining land in Wakatu Square for the development. Cr Barker says, "We recognise that there are still a number of steps to go through before Cephas will be in a position to confirm construction of this new high-quality retail space. If a significant change to the carpark is sought then Council will consider that option but will want to hear the community's view on such a change."
Council will continue to work closely with Cephas as they explore the investment opportunity further.