 Providing a number of small shops as a comprehensive development was an advanced idea at the time, and New Regent Street is regarded as a forerunner to modern shopping malls.Due to its coherent architectural character, the buildings in the streets are listed as Category I heritage items by Heritage New Zealand, and in addition, the entire street has a historic area listing.The street was pedestrianised in 1994 in preparation for the introduction of the , which began operation in February 1995.