Dress-Smart Onehunga will introduce late-night shopping on Thursday 1 October as it celebrates 20 years in business. It will stay open an extra 2 hours on Thursdays, until 7pm.
Centre manager Gaylene Powell said yesterday the advent of late-night shopping was a positive way to recognise the growth of demand for outlet shopping. It’s also about parking: “Research showed us we needed to take the pressure off weekend demand, where parking is often challenging for shoppers. Our tenant buy-in has been very positive and they are excited about the prospect of offering shoppers an ‘after hours’ alternative to the weekend.
“Late-night trading will also bring more families into the centre to enjoy the variety of food & beverage offerings whilst they’re shopping.”
Dress-Smart opened with 20 stores in October 1995 and has 104 stores today, with a net lettable area of 12,626m².
Lend Lease Corp of Sydney bought this Dress-Smart outlet centre, 2 others in Christchurch & Wellington and the Meridian Mall in Dunedin in October 2010 as part of the consortium purchase of the assets of the ING Retail Property Fund, then sold them a year later into a closed-ended unlisted wholesale property fund, the Lend Lease Real Estate Partners NZ Fund, for $197 million.
Primeproperty Group Ltd (Eyal Aharoni) bought Dress-smart Wellington from Lend Lease for an undisclosed sum 2 years ago and renamed it Outlet City Wellington. Lend Lease has the remaining 3 properties on its fund’s books at $246 million.
Oyster Property Group Ltd, now 50% owned by the Brisbane-based Cromwell Property Group, manages the Lend Lease fund’s 3 properties.
Oyster manages over $750 million of commercial property assets through a combination of private property syndicates & institutional property management mandates.
6 June 2014: Cromwell buys half of Oyster, McKellar to chair it
21 October 2011: Lend Lease sells 4 NZ retail centres into wholesale fund
Attribution: Company release.