Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Newmarket commercial joint venture

Hon John Banks QSO
Mayor of Auckland City

19 August 2002

Newmarket commercial joint venture

Auckland Mayor John Banks today praised the Newmarket joint venture announced by the Westfield Trust and Auckland One as a logical commercial marriage that was “in the best interests of greater Auckland.”

“Newmarket is a key retail hub for Auckland City and the region, and having two major property developments join forces will not only boost Newmarket as an attractive shopping destination but helps moves Auckland forward as an exciting place to live, invest and do business.”

The joint venture came about when he suggested earlier this year discussions be held between the parties with a view to achieving an integrated, planned and co-ordinated international mixed use inner city development.

“There has been a lot of work and interesting debate across Broadway in recent months. Today’s announcement accommodates much of the concern around having two major developments in Newmarket. We can now move forward as one team.

Mr Banks said the parties involved could now move the development forward based on shared objectives, including to ensure that the commercial integrity of local Newmarket and Remuera shopping environments were not simply protected but enhanced and constructive solutions to traffic and transport issues were worked through.

“When you integrate this proposed development together with our motorway network completion and public transport programmes, an exciting future emerges for Newmarket,” said Mr Banks. “With Newmarket railway station in easy walking distance and motorway access nearby, Newmarket can only be enhanced as a popular destination for Auckland shoppers and office workers.”

Mr Banks said there was now a real opportunity to incorporate badly needed local traffic and public transport improvements into the development that would benefit the whole of Newmarket. He also believed the joint venture would help reduce the risk of overbuilding on both sides of Broadway that could otherwise have occurred if both developments had proceeded independently.

Mr Banks said the fact that two international-based companies had agreed to join forces in Auckland would send a strong and positive signal to other potential investors about Auckland’s commercial development potential. Unquestionably, there would also be spinoffs in the form of employment opportunities as the development moved into construction.

A task force team comprising the council, Westfield and Auckland One will be immediately set up to progress the joint venture rapidly and efficiently.

Commending both parties on seeing the logic of taking on a project together that many might see as “outside the square,” rather than continuing to compete across the street against each other, Mr Banks said he strongly believed the outcome would be a win-win for both enterprises and a win for Aucklanders.

“This is an example of Auckland moving forward as New Zealand’s commercial capital,” concluded Mr Banks.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Juggling Covid, And France’s Trump-like Populist

It is the age-old Covid problem. How to balance the needs for firms (and schools) to re-open against the need to protect public health. In the past, the balance has been struck by insisting that the best public health outcomes also deliver the best economic (and educational) outcomes. While that may still be objectively true, it is no longer a politically tenable position... More>>

RNZ: Prime Minister Jacinda Ardern announces Cabinet decision on Covid-19 alert levels

Northland will move to level 2 at 11.59pm on 19 October. Waikato will be held at level 3, to be reviewed on Friday. Auckland will remain in level 3 with current restrictions for another two weeks... More>>



Government: Red Tape Cut To Boost Housing Supply
First home buyers are set to benefit from changes to planning rules being advanced by the Government and the National Party that will enable more medium density housing and cut red tape that acts as a barrier to development... More>>


Economy: Inflation highest in over a decade
The consumers price index rose 2.2 percent in the September 2021 quarter, the biggest quarterly movement since a 2.3 percent rise in the December 2010 quarter, Stats NZ said today. Excluding quarters impacted by increases to GST rates, the September quarter movement was the highest since the June 1987 quarter... More>>


Government: New Zealand Increases Climate Aid Contribution

The Government is making a four-fold increase in the support it provides to countries most vulnerable to the climate emergency, Prime Minister Jacinda Ardern and Climate Change Minister James Shaw announced today... More>>

Pay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>

Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>

Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>




InfoPages News Channels