{"id":102500,"date":"2025-10-26T21:33:06","date_gmt":"2025-10-26T21:33:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/102500\/"},"modified":"2025-10-26T21:33:06","modified_gmt":"2025-10-26T21:33:06","slug":"christchurchs-little-high-eatery-sold-but-founders-keep-stake-in-new-deal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/102500\/","title":{"rendered":"Christchurch\u2019s Little High Eatery sold but founders keep stake in new deal"},"content":{"rendered":"<p><img  alt=\"The McKenzie &amp; Willis heritage facade in Christchurch after the 2011 earthquake. Photo \/ Supplied\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>The McKenzie &amp; Willis heritage facade in Christchurch after the 2011 earthquake. Photo \/ Supplied<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The facade that Peebles had advised to knock over is on the corner of High and Tuam streets. Its uniqueness comes from the angle of that intersection. Christchurch city is designed in a grid pattern with streets running north to south and east to west. Its symmetry is only really disrupted by the snaking Avon River and two deliberately diagonal streets \u2013 High and Victoria.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Given that grid design, most corner frontages are at right angles, but the McKenzie and Willis facade is far more obtuse \u2013 at around 135 degrees. Few buildings have a similar shape and certainly none that have stood for a century. All the more reason to save it.<\/p>\n<p><img  alt=\"The McKenzie &amp; Willis facade as it looked through the 1980's. Photo \/ Supplied\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>The McKenzie &amp; Willis facade as it looked through the 1980&#8217;s. Photo \/ Supplied<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cSo, I kept on pestering Richard and then all of a sudden, he rings me up and he goes, \u2018I figured it out. I\u2019ve got a plan. We can do it\u2019,\u201d says Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Peebles interjects again. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI reckon I agreed to do the project thinking I\u2019d just convince him to knock down the wall at a later stage, but obviously that didn\u2019t happen.\u201d<\/p>\n<p>\u2018What\u2019s this Richard guy like?\u2019<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The wall was heritage listed, but in Peebles\u2019 words, \u201cYou could\u2019ve knocked down anything in those days\u201d. If the first discussion was about feasibility, the second was financial. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe were going 50\/50, right?\u201d Peebles asks Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWell, your intention was 50\/50, and I was never in a position to go 50\/50. That\u2019s when I started speaking to these guys and saying, \u2018Tell me what you think of this idea\u2019,\u201d says Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cThese guys\u201d that Willis alludes to are Mike Percasky and Kris Inglis. They\u2019d been listening to the story so far and added their own take to Willis\u2019 narration. Percasky describes how he and Inglis had assumed that their good friend Willis was making a pitch for their investment \u2013 and they weren\u2019t just keen, they were on the hook. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cAnd he goes, \u2018Yeah, I just wanted your advice because my family\u2019s going to do half and Richard\u2019s going to do the other half\u2019. We came out going, \u2018That would\u2019ve been a cool project to be part of\u2019,\u201d says Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">At that stage, the Little High Eatery concept hadn\u2019t even been thought of. The project was to be a mix of office and retail, with the potential to establish a women\u2019s fashion precinct. Willis found that the enthusiasm of friends Percasky and Inglis wasn\u2019t matched by the family business. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cThe old company, they were never that keen,\u201d says Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">So he officially pitched the project to Percasky and Inglis, and the pair were introduced to Peebles. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWhat\u2019s this Richard guy like? And you said, \u2018Oh, he\u2019s a pretty good guy,\u2019 says Percasky, recounting his conversation with Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cLied, obviously!\u201d adds Peebles in self-deprecation.<\/p>\n<p><img  alt=\"Christchurch developers Mike Percasky (left) Kris Inglis (middle) and Richard Peebles (right) at Riverside Market. The showpiece of Christchurch city was inspired by the trio's involvement in Little High. Photo \/ George Heard\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>Christchurch developers Mike Percasky (left) Kris Inglis (middle) and Richard Peebles (right) at Riverside Market. The showpiece of Christchurch city was inspired by the trio&#8217;s involvement in Little High. Photo \/ George Heard<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">So began a partnership that Christchurch is still reaping the benefits of now. The collective of Peebles, Percasky and Inglis has a talent for providing attractions that the city didn\u2019t know it wanted \u2013 and now can\u2019t imagine being without them. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Still, this initial foray into a communal-style food court would take some significant imagination \u2013 and investment.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cIt was a bit off-piste, so not only was it behind the facade [and the attached building], it was actually hard to sort of access effectively, but it was sort of a bit of an island here, wasn\u2019t it? There wasn\u2019t a lot around,\u201d says Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">With office space and retail already planned, thoughts turned to hospitality for the last empty section of the development. <\/p>\n<p>\u2018We spent a million bucks on eight little food vendors!\u2019 <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Nowadays, Little High could be described as tucked away in central Christchurch\u2019s SALT district. SALT stands for St Asaph-Lichfield-Tuam, names of the surrounding streets. But in 2012 it was a long way from that &#8211; and a long way from ground zero of the rebuild. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe realised for it to work as hospo, it had to be probably a destination. Around that time, the container mall was starting to wind up. We thought it\u2019d be quite cool to keep that little vibe somehow down here,\u201d says Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">They\u2019d admired Ponsonby Central in Auckland. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cThere was nothing like that in Christchurch,\u201d says Inglis, who describes Little High as Percasky\u2019s baby. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI mean, we stole a lot of it, but the real driver when I sort of started getting my head around it was I had young kids and we kept going out for dinner and it was a f****** nightmare. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cTwo of them would like Mexican, but one wouldn\u2019t, and I just wanted to go to a place where the kids could do what they want, but I could drink a really nice beer,\u201d says Percasky, describing a reality many parents can relate to. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">They wanted a space that they would enjoy as customers, but also that vendors had a hand in creating. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cNormally, the landlord just comes in and sort of says, right, this is what the space is, and then you go and fit it out,\u201d says Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cBut in this case, we knew they couldn\u2019t afford to fit out, so we knew we had to do it together. It became more authentic because they all put their two cents\u2019 worth in.\u201d<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The interior was laid out by acclaimed designer Georgie Kirkcaldie-Inglis, Kris\u2019 wife.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cSomehow, we spent a million bucks on eight little food vendors! I don\u2019t know how you agreed to it, Kris. You\u2019re the finance man,\u201d says Peebles. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI was getting pressure at home! I had no choice,\u201d says Inglis, jokingly. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cBut it felt so good. The decor was awesome. Georgie did an amazing job,\u201d says Peebles.<\/p>\n<p><img  alt=\"From L to R, Kris Inglis, Bill Willis and Mike Percasky at Little High Eatery, Christchurch. Photo \/ Mike Thorpe\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>From L to R, Kris Inglis, Bill Willis and Mike Percasky at Little High Eatery, Christchurch. Photo \/ Mike Thorpe<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Little High\u2019s outgoings were flowing \u2013 but the forecasted income had somehow escaped serious scrutiny. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cAt no time did we actually sit down and figure out how many people we needed to get through [the doors] to make it work. It wasn\u2019t until quite close to opening we sort of started to do some numbers. We probably needed about 2000 people per day.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Christchurch city, at that stage, was only just properly reopening for business.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI suddenly went, \u2018Oh my God, we\u2019d be lucky if 2000 people went into the whole of Christchurch per day. How the hell are we going to get them in here?\u201d says Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Whilst it\u2019s unclear if Percasky\u2019s maths proved correct, it\u2019s obvious that their multimillion-dollar Little High gamble paid off. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cJust from day one, it just went gangbusters,\u201d says Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cPeople couldn\u2019t believe that this was in Christchurch,\u201d adds Inglis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">But it almost wasn\u2019t.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u2018It was just really dirty\u2019<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Long after the wall was saved, but only three months before the doors opened, a collective of rival developers put up a new wall \u2013 in the form of a judicial review. They were challenging the council consent that had been granted two years prior.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cAll these people I knew suddenly had ganged up on us. Someone led the charge and convinced all the other property guys in Christchurch that allowing us to do this would water down the retail in the CBD,\u201d says Peebles. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI know Tim Glasson refused to sign it because he said that\u2019s just anti-competitive,\u201d adds Percasky. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The argument centred around how much of their new venture could contain retail space. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe were allowed to have retail at 150 square metres on High St, but we got consent for the whole area, and that was what the argument was,\u201d Peebles explains. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Inglis adds: \u201cWe were saying when our whole title is based on the High St, so that title should have retail capabilities, which is still the correct interpretation.\u201d <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The review was then suddenly dropped, which the group found curious.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cIt was just really dirty,\u201d says Inglis.<\/p>\n<p><img  alt=\"The McKenzie &amp; Willis buildings. The facade on the left was saved. The red brick building was demolished. Photo \/ Supplied\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>The McKenzie &amp; Willis buildings. The facade on the left was saved. The red brick building was demolished. Photo \/ Supplied<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The saga played out in the media and ultimately helped gather public support for their eagerly anticipated project. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Nine years later, Little High is still heavily supported &#8211; and it\u2019s just been sold. <\/p>\n<p>\u2018It wasn\u2019t a f****** wall\u2019 <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe weren\u2019t necessarily looking to sell it,\u201d says Inglis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe\u2019re all pretty proud of it, really enjoy owning it, but I suppose at times there\u2019s a moment when you need to just have a look at the balance sheet. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe\u2019re all continuing on with some other developments around town. Richard\u2019s got Downtown [a $130m, 20-building complex], which is awesome. Mike\u2019s doing some stuff at Homebase, and I\u2019ve just got heaps of debt on the house that I want to get rid of!\u201d<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Peebles sees the irony in the timing, given they\u2019ve just begun extensions at Little High and signed a string of new tenants to the former McKenzie &amp; Willis building, including Duck Island ice cream and Toastie Lords.<\/p>\n<p><img  alt=\"The High Street facing frontage of the former McKenzie &amp; Willis building. New tenants Toastie Lords and Duck Island Ice Cream have recently taken up a lease there. Photo \/ Mike Thorpe\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>The High Street facing frontage of the former McKenzie &amp; Willis building. New tenants Toastie Lords and Duck Island Ice Cream have recently taken up a lease there. Photo \/ Mike Thorpe<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Nearby, One New Zealand Stadium &#8211; the city\u2019s long-awaited new covered stadium &#8211; is also due to open in April 2026. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI wouldn\u2019t have sold if I wasn\u2019t doing Downtown. I wouldn\u2019t have sold, but that was perfect timing. And Downtown\u2019s going to connect the city to here [Little High],\u201d says Peebles. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">The buyer is Mainland Capital\u2019s Christchurch Fund. Established in 2018, the fund has acquired multiple properties in the CBD and, with the addition of the McKenzie &amp; Willis building and Little High Eatery, it now boasts a combined value of approximately $109m. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Peebles, Percasky, Inglis and Willis have also invested in the fund, retaining some ownership of what they\u2019ve created. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cWe like the other buildings that are in the fund, and we\u2019re committed to the Christchurch story,\u201d says Inglis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cOverly committed,\u201d jokes Peebles. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Mainland Capital director Ben Bridge says he\u2019s very sensitive to how much effort and risk has gone into the High Street site. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cThey had to trust you\u2019d look after what they\u2019d spent 10 years fighting for and creating. It was a friendly conversation that developed into something which was, \u2018Would you consider bringing this property into a wider Christchurch fund?\u2019 I think that appealed to them more than if someone had said, \u2018Hey, here\u2019s a cheque\u2019. It\u2019s an ability to maintain ownership, so there\u2019s going to be an ongoing connection,\u201d says Bridge. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">For Willis, there will always be a connection. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI think for me it\u2019s always been a journey. I grew up on this site, I ended up working here, and met Richard [Peebles]. We went through that whole process, I got into business with two of my best mates. Now it feels like the right time to bring it in with Mainland Capital,\u201d he says.<\/p>\n<p><img  alt=\"The restored facade of the former McKenzie &amp; Willis building is enjoyed by tram passengers. Photo \/ Mike Thorpe\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>The restored facade of the former McKenzie &amp; Willis building is enjoyed by tram passengers. Photo \/ Mike Thorpe<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">It feels right to him now \u2013 just as it felt right to save it. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI remember right at the beginning [wondering] if it\u2019ll prove to be a smart move and whether it\u2019ll happen and be a good thing. It did happen thanks to everyone here, and it\u2019s been an amazing thing,\u201d says Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cYou wouldn\u2019t advise anyone to do it, but once it\u2019s done, it\u2019s really cool. It\u2019d be hard to replicate,\u201d says Peebles in a way that seems more like genuine advice than warding off copycats. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">As the lunch crowd files in, we disperse \u2013 but not before another Peebles quip about the wall of Willis. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">\u201cI do remember when it was settled, all three of us went up on the scaffold and had a look at the wall. It wasn\u2019t f****** a wall, it was just a loose pile of&#8230;\u201d starts Peebles as conversation drifts back to the beginning. <\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Whatever it was then, it\u2019s a wall now \u2013 and it\u2019s load-bearing for Christchurch hospitality.<\/p>\n<p class=\"dptlwVDgxxGx\" style=\"display:none\">Mike Thorpe is a senior journalist for the Herald, based in Christchurch. He has been a broadcast journalist across television and radio for 20 years and joined the Herald in August 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"The McKenzie &amp; Willis heritage facade in Christchurch after the 2011 earthquake. Photo \/ Supplied The facade that&hellip;\n","protected":false},"author":2,"featured_media":102501,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[74,4057,6326,138,3013,62319,50545,13849,3468,74834,24570,6097,54180,74833,30692,8272,19363,16461,16773,2959,1861,15557,78,1426,302,5511,809,6093,5836,48062,2064,225,32897,1456,37107,74838,117,111,139,36155,74840,69,74835,10903,74837,74836,12229,74841,59611,3235,392,1130,6182,3502,1361,6759,74839,102,6438],"class_list":["post-102500","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-after","tag-behind","tag-biggest","tag-business","tag-but","tag-catalyst","tag-christchurchs","tag-citys","tag-deal","tag-desired","tag-developers","tag-down","tag-eatery","tag-endorsement","tag-eventually","tag-f","tag-founders","tag-glowing","tag-great","tag-high","tag-history","tag-hospitality","tag-in","tag-investment","tag-its","tag-just","tag-keep","tag-little","tag-lost","tag-mad","tag-madness","tag-market","tag-mate","tag-mike","tag-multimilliondollar","tag-multivendor","tag-new","tag-new-zealand","tag-newzealand","tag-nineyear","tag-nowfamous","tag-nz","tag-pitching","tag-popular","tag-postquake","tag-prevailed","tag-result","tag-riverside","tag-showpiece","tag-sold","tag-space","tag-stake","tag-stories","tag-success","tag-that","tag-thorpe","tag-vendor","tag-with","tag-youre"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/102500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=102500"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/102500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/102501"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=102500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=102500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=102500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}