Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Dress-Smart Expansions Near Completion

18 October 2005

Dress-Smart Expansions Near Completion

Expansion of two of New Zealand’s leading outlet centres is now nearing completion.

In February, ING NZ Retail Fund (‘the Fund’), a subsidiary of ING Retail Property Fund Australia received Resource Consents for a NZ$18million expansion of Dress-Smart Onehunga in Auckland and a NZ$5million expansion of Dress-Smart Hornby in Christchurch.

Construction of the Dress-Smart Onehunga extension is nearing completion and fitout is commencing shortly for many of the tenancies. Floor space has been increased by 3,800m2 – or over 40 per cent – and 40 new stores will be added to the centre over the next four months, bringing the total number of separate retail outlets to 110.

The first 20 stores will begin trading in November. These include popular clothing retailers Colorado, Meccano, Untouched World, David Lawrence, McKenzie Country and footwear brand, Mi Piaci. Life Pharmacy is also opening a Life outlet store selling quality cosmetics, perfumes and body care products. And, Gloria Jeans café and Wendy’s Supa Sundaes will make their Dress-Smart debut.

Existing tenants relocating to larger stores include adidas, Puma, Designer Haircare, Levis, Cue, Resort X, Book Clearance and Jeans West; all of whom have doubled their retail area.

In Hornby, construction of the 1,700m2 extension is now in its final stages and fitout is well advanced in the new premises. The 15 new tenancies will open from mid October through to early November. The official centre extension opening will take place on 4 November 2005.

The first new stores due to open later this month include popular children’s clothing retailers Pumpkin Patch and Just Kids as well as Canterbury NZ, Pacific Brands, Designer Haircare, Ripcurl and Meccano. A number of existing tenants are relocating to larger stores, including the popular Diesel outlet.

Anthony Bertoldi, CEO of the Fund said the decision to expand the centres was based on strong tenant demand at both centres and continued strong trading performance.

“Our decision has been validated as evidenced by exceptionally strong leasing figures at both centres. The range and quality of new international and domestic brands attracted also clearly supports the continued success of the Dress-Smart concept,” he said.

Prime Retail Management Limited, who manages the Dress-Smart portfolio on behalf of owners ING NZ Retail Fund, is also very pleased with the latest development.

“The Onehunga and Hornby expansions will ensure that Dress-Smart centres remain New Zealand’s premier outlet shopping destinations. Dress-Smart continues to offer shoppers an unrivalled, comprehensive choice of popular brands under one roof,” Mr Schiele said

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>