The following media statement was issued on behalf of Farmers today.
New Farmers store confirmed for Rangiora
Rangiora is getting its new Farmers department store.
Following a long drawn out insurance claim, settlement has been reached for the town’s earthquake damaged CBD building paving the way for a heads of agreement between Farmers and owners Mandeville Properties to develop a new store.
Demolition of the existing building is expected to begin shortly and the new Farmers is expected to open in early 2016.
Farmers chief financial officer Michael Power says demolition of the building will enable the council to remove the site fences.
“Business people in Rangiora will be delighted as this will bring some normality back to the CBD,” Mr Power says. “Mandeville Properties is a local business and it has worked extremely hard to retain a department store in the town.
“Now that the key aspects of the heads of agreement have been agreed we expect to begin construction in January next year. The plan is to have the new Farmers Rangiora store open for business about 12 months after that.”
Waimakariri District mayor David Ayers is delighted with the news.
“The rebuild and return of Farmers to its existing site is crucial to the revival of the central retail area and the council has been working with Mandeville Properties and Farmers to achieve that.
“Along with the strengthening of existing buildings and other new shops currently being designed, Rangiora is going to come back better than ever. It is going to be exciting to watch the new Farmers and the specialty shops rise over the next 18 months or so.”
In February, Farmers and Mandeville Properties said they were in meaningful discussions with the insurers and a collaborative approach to managing the construction of a new store would be taken.
The current building suffered extensive damage in successive Canterbury earthquakes. The new store will cover approximately 5,900 square metres and will include up to five speciality shops.
Rangiora is the largest town in North Canterbury and has a population of around 16,000.
Issued for Farmers by Pead PR