Scentre’s pitch for heart of Auckland
Shopping centre giant Scentre Group is forging ahead with major developments, yesterday kicking off its $NZ790 million ($733m) redevelopment of the Westfield Newmarket complex, where it is aiming to build a dominant centre in the heart of Auckland.
The deal will see Scentre, led by Peter Allen, pour $NZ400m into the redevelopment that will span multiple sites over 4.5 hectares and add to a pipeline that includes an overhaul of Sydney’s historic David Jones Market Street store and a new centre at harbourside Barangaroo.
The Broadway site will also house Auckland’s first David Jones department store, a Farmers department store, Countdown supermarket and more than 230 new specialty stores.
Westfield Newmarket is halfowned by Singaporean giant GIC Real Estate, which will fund its share of the project.
“On completion, Westfield Newmarket will represent a premium fashion, food, technology, lifestyle and entertainment experience unrivalled in New Zealand,” Scentre Group chief operating officer Greg Miles said.
The first and only David Jones store in New Zealand was opened in Wellington in 2016.