Retail expansion booming

Auckland’s record retail expansion will see the addition of 17 hectares of new shops, equivalent to about 23 rugby fields.

Colliers International has released a market snapshot of the Auckland retail scene and it said 179,380sq m of retail was being developed throughout the city.

Westfield Newmarket, Precinct Properties’ redevelopment of the Downtown Centre and the expansion of Sylvia Park at Mt Wellington are the largest projects underway.

But Colliers warned there were also risks with rapid growth. “The development pipeline will alleviate long-term demand pressures but this could also see a potential rise in vacancy,” Colliers said.