Plaza development is 'great news for the city'

Palmerston North Mayor, Jono Naylor, has described The Plaza development as “great news for the city.”


The $93 million redevelopment and expansion of the The Plaza strengthens Palmerston North’s position as the premier shopping destination in the lower North Island he says.


The latest City Council economic figures show retail sales for Palmerston North enjoying a 17 percent increase in the three months to December 2007 compared to the national average of six percent. Contributing to the retail buoyancy was the spend from the region extending as far south as Wellington.


“The announcement by the Kiwi Income Property Trust will reinforce our reputation as a ‘shopping mecca’ for both locals and people who want to visit the city for a positive retail experience,” Jono Naylor says.


The Plaza development, which will see the shopping centre increase in area by nearly 60 percent, is a vote of confidence by Kiwi Properties in our city he comments.


“Kiwi Properties clearly responded to the vibrancy of Palmerston North, its impressive retail trends and its reputation as a city of economic growth,” Jono Naylor says.


“The Plaza upgrade continues to centralise retail development in and around the Central Business District (CBD) and this makes Palmerston North so attractive for people who want to shop here.”


Mayor Jono Naylor congratulates Kiwi Properties on their announcement and expansion programme and looks forward to meeting CEO, Angus McNaughton, and his team when they visit Palmerston North in the near future.