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

 


Building a Better Newmarket

Media release

Thursday, 23 November 2012

Building a Better Newmarket

New details have been revealed about two major developments which promise to underpin the economic future of Auckland's second largest retail centre.

At an event hosted by the Newmarket Business Association this week, keynote speakers from NZTA and Westfield have provided further insight into plans to develop vacant land beneath the Newmarket Viaduct - and expand the area's retail footprint.

Westfield New Zealand Director, Justin Lynch, outlined plans for a proposed new retail development on the historic Dominion Motors/Levene Extreme/Farmers site which borders Mortimer Pass and Broadway.

In addition to a proposed flagship 9,500 sqm Department store, 95 new specialty stores are planned, along with a six-screen cinema, gymnasium and 1,400 car additional parking spaces.

Mr Lynch says the completed project will "not be your typical shopping mall exterior – you could say it will be have more presence like that of an art gallery" with a striking bronze and glass facade.

Subject to planning approvals, and the right market conditions, the multi-million dollar complex could be built within 18 months. "The Westfield Newmarket project will complement, extend and consolidate Newmarket as the pre-eminent retail precinct in New Zealand" says Mr Lynch

Association Chief Executive Ashley Church says "The scale and architectural and aesthetic values of the proposed development are absolutely stunning ", adding that the University of Auckland's move to acquire and redevelop the old Lion Brewery site adds further impetus to Newmarket's future prospects.

With the $215m Newmarket Viaduct Replacement project due for completion before Christmas, the NZ Transport Agency (NZTA) has also unveiled a draft master plan which provides for a mix of commercial and office space, active retail frontages, car parking buildings and multi-functional open space under the flyover.

NZTA Senior Urban Design Advisor, Jacque Bell, says the aim is to create retail and business developments - up to four stories high - that allow for "more progressive land use which would provide a benefit to the Newmarket community."

To that end, the NZTA will shortly invite tenders for 99 year leases on the Viaduct land. "What we want to try and get is integrated development appearing in that area. So it will be the best proposal in the best areas that'll actually win that" says NZTA Manager Ritchie Schofield.

Despite suggestions that it might have lost its crown, retail sales in Newmarket have grown by 6.5 per cent over the past year and the average transaction value has risen to almost $70, well ahead of Sylvia Park ($50), Ponsonby ($49) and the CBD ($47).

Association Chief Executive Ashley Church says "There is a pattern of strong growth taking place covering a variety of different and important economic indicators and these bode extremely well for the future of Newmarket."

ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Scoop Business: ComCom Charges Hawkins’ Finance Companies Over Debt Recovery

The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. More>>

ALSO:

Science Media Centre: The Big Science Stories Of 2014

It was a dramatic year for science, one that witnessed a severe outbreak of Ebola in West Africa and an historic mission to land a space probe on a comet. On the home front... headlines with animal testing for 'legal highs', 1080 use to tackle increased pest numbers and court action over genetically modified organisms among the most-covered stories. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news