AMP Capital in $78m redevelopment of Botany Town Centre
The development will include the introduction of international and national retailers; an additional mix of speciality retailers, refurbishment to ‘Garden Lane’, a refresh of the fresh food precinct adjoining the New World supermarket and an expansion of the alfresco dining offer.
“After considered preparation and planning, we are thrilled to announce a significant retail, leisure and entertainment expansion in one of Auckland’s fastest-growing and most populous areas,” said AMP Capital portfolio manager Nick Cobham.
“Botany Town Centre has always been the hub of the Botany community and will remain close to its roots in both design and spirit – just in a bigger, better and even more inviting format.”
The centre opened in 2001 and is currently Auckland’s second-largest shopping centre by lettable area.
The development is being undertaken by AMP Capital Shopping Centres, the finance firm’s specialist retail division, which has over A$10 billion in assets under management.
The 300-strong team manages a portfolio of 30 shopping centres in Australia and New Zealand including Botany Town Centre and Manukau Supa Centa in Auckland, Bayfair Shopping Centre in Tauranga, and The Palms in Christchurch.
“The investment in this development represents a significant measure of confidence in the centre,” said AMP Capital Shopping Centres development manager, Paul Hudson.
We know our shoppers will love the enhanced experience when it’s complete and we are excited to get started on this large-scale programme that is part of a wider masterplan for the centre.”
The expansion follows the Auckland Council Unitary Plan’s designation of Botany Town Centre as a metropolitan zoned hub. Several Special Housing Areas and future residential growth areas have been identified surrounding the centre and have been fast tracked for development.
The expansion will bring Botany Town Centre’s gross lettable area to more than 62,700 square metres, with over 200 retailers.
Naylor Love construction has been appointed as the main contractor for the project.
Botany Town Centre is owned by the Public Sector Pension Investment and Canada Pension Plan Investment Boards.