As all non-essential workers head home for a minimum of four weeks to combat COVID-19, the Invercargill CBD development is unlikely to meet its target open date.
The organisation behind city block development stage one, Invercargill Central Ltd, planned to complete its stage construction by February 2022.
With contractors downing tools yesterday, Invercargill Central Ltd director Scott O’Donnell said it would be unlikely. As a result, negotiations would have to begin with its anchor tenant, Farmers, around a new start date.
The financial hit that retailers are likely to face due to COVID-19 may also result in further complications for developers due to the required $5 million annual rental income to secure a bank loan. Scott says they have no expectations for what will happen until construction can recommence.
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