AMP Capital Investors Ltd has entered the third stage of its $78 million expansion of the Botany Town Centre in South Auckland, closing Garden Lane for redesign.
AMP Capital Shopping Centres development manager Paul Hudson said yesterday the closure was a milestone for the development, which was on track to be completed in mid-2019.
“The development to date has seen the extension of the main entrance (Conservatory) well under way, with the roof due to be added in the next 6 weeks. The refurbishment of Market Square (near New World) is also well advanced.”
The development will take the centre’s gross lettable area to 62,700m², occupied by over 200 tenants, while preserving its qualities as an open-air shopping centre.
Plants from the community garden in Garden Lane will be distributed throughout the centre. The play area will reopen in the form of 3 smaller play areas.
Mr Hudson said 40% of the new Garden Lane had been leased.
Naylor Love Construction Ltd is the main contractor for the expansion project, which follows the Auckland Council unitary plan’s designation of Botany Town Centre as a metropolitan-zoned hub. Several special housing & future residential growth areas have been identified around it.
Botany Town Centre opened in 2001 and is Auckland’s second-largest shopping centre by lettable area.
AMP Capital has $26 billion of assets under management, and AMP Capital Shopping Centres manages a portfolio of 30 shopping centres in Australia & New Zealand, including Botany & Manukau Supa Centa in Auckland, Bayfair Shopping Centre in Tauranga, and The Palms, Northwood & Merivale in Christchurch.
16 February 2018: Botany Town Centre set for upgrade
14 December 2016: Second Canadian pension fund buys into AMP property portfolio
11 July 2014: AMP Property sells $1 billion portfolio, NZ Super Fund looks for new investments
Attribution: Company release.