Bank of New Zealand (BNZ) will return to the street where it opened its first Nelson branch more than 160 years ago, becoming the anchor tenant in the new Morrison precinct redevelopment.
The bank announced last week that it will relocate its Nelson branch from Trafalgar Street to the mixed-use development on Hardy Street, which is scheduled to open in stages from 2027.
The former Morrison Square complex is being transformed into a precinct featuring retail, hospitality, offices, healthcare, a public piazza, laneways, a rooftop venue and boutique accommodation.
BNZ chief executive Dan Huggins says the move reflects the bank's long-standing commitment to Nelson and the wider region.
“We’ve been serving the Nelson community for more than 160 years, and this is a significant investment in BNZ’s future here.
“Morrison is an exciting development for central Nelson, and we’re proud to be part of a project that will bring new activity, businesses and people into the heart of the city.”
He says the bank has been looking for a site better suited to modern banking and workplace needs.
The new branch will be about 200 metres away on Hardy St, where BNZ opened its first Nelson branch, almost next door, in January 1862.
“Returning to Hardy St gives this move a special connection to our history, while providing a space designed for how our customers and colleagues bank and work today,” Dan says.
Scheduled to open in mid-2027, the branch will include a central welcome hub, private meeting rooms and a secure 24-hour ATM lobby.
The Morrison redevelopment will retain and repurpose much of the existing buildings, including the Hardy St heritage frontage and the former Fields and Newmans buildings that BNZ will occupy.
Once complete, the precinct is expected to house about 30 businesses and more than 200 workers, alongside tenants including Reform Radiology.
Morrison Square Development co-owner and director Justin Candish says the development will provide more than 8,000 square metres of lettable space, as well as laneways and the open-air Morrison Piazza.
“Morrison will be a destination rather than just a collection of buildings. It will be a great place to work for the staff in businesses based here, and it will be a great place to visit, dine, stay and access banking and healthcare services.
“The piazza will give central Nelson a genuine public space, with the eatery, laneways and hotel all opening onto it, helping keep the CBD active beyond traditional retail hours,” Justin says.
Scott Construction is the main contractor, with 45 local subcontractors and consultants currently involved in the project, most of them based in Nelson and Tasman.
Reform Radiology's medical centre is scheduled to open in March 2027, followed by BNZ's new branch in mid-2027 and the Morrison Eatery and hospitality precinct in October 2027. The hotel and remaining office and retail spaces are expected to open in December 2027.
