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Westfield Expansion Gets Green Light

FOR IMMEDIATE RELEASE
Wednesday, 15 December, 2009
Westfield Expansion Gets Green Light


Westfield has committed NZ$33million to cement Westfield Chartwell’s place as the leading retail centre in the Waikato Region.

Westfield New Zealand Director, Mr Justin Lynch says, “The level of interest and commitment from a number of leading brands has reinforced Westfield Chartwell’s position as the premier fashion, entertainment and retail offering in the Waikato.”

“Over the past two years our team has been working on the planning for this development, and all necessary consents have been obtained. Our pre-leasing program has been positively received giving testament to how strong the Westfield Chartwell brand is in the market.

“Farmers has committed to a new two level department store and a significant number of leading fashion brands have already signed and committed to the project. The expansion will get underway in late January, 2010 with stage one of the new stores completed, opened and trading by the end of 2010,” said Mr. Lynch.

Mr Rod McDermott, Managing Director of Farmers says, “Farmers has long wanted to be in a position to offer a full product range and to find a way to be able to extend our fashion offer. This expansion has enabled us to achieve both these goals, and to be the anchor tenant was an easy business decision.”

With top fashion labels already signed up to open their doors next year, Westfield’s move to invest further will see Westfield Chartwell reinforced as Hamilton’s top fashion destination.

At the completion of the Westfield Chartwell project the centre will comprise:
• 126 retailers
• A new 5,700m2 two level Farmers department store
• SKYCITY Cinemas 6-screen complex
• Foodtown supermarket
• 450 Seat Foodcourt
• Gross Lettable Area 28,500m2

Currently Westfield Chartwell has a Gross Lettable Area of 21,369m2 with 111 retailers.

The centre draws off a trade area population of 137,140 has annual sales of NZ$118.4million 3rd quarter 2009.

ENDS

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