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$15 Million Refurbishment of Bayfair Shopping Centre

Bayfair Shopping Centre Officially Launches $15 Million Refurbishment Project

Bayfair Shopping Centre’s $15 million refurbishment was officially launched this month, marking the completion of a project which commenced in February this year.

The refurbishment, which was officially launched by the MP for the Bay of Plenty, Hon Tony Ryall on Wednesday 10 November, presents a new-look retail offer, a reconfigured entry point, and an updated grocery offer as a result of the Woolworths refurbishment.

Mr Ryall says the investment and development is great for the Western Bay of Plenty. "This is one of a number of major projects in the Western Bay, including new schools and roads. The Bayfair refurbishment continues to create jobs and opportunities in our region - it's great.”

The investment in the refurbishment by Bayfair’s owners TOWER Investments and AMP Capital Investors represents a significant measure of confidence in the centre, its management and the region.

“Bayfair serves an important role in the wider community as a major shopping destination for the Tauranga region, which is one of New Zealand’s fastest-growing regions and experiences huge seasonal surges in tourism,” says AMP Capital Investors Fund Manager Conrad Sinclair.

“In fact, recent Statistics New Zealand figures found that in the June 2010 year, Tauranga was one of the fastest growing urban areas (up 1.5 percent). As the region grows, we want to grow with it, and the refurbishment is part of future-proofing for that growth.”

Tower Investments Head of Property Brent Buchanan says, “Bayfair is a long term investment that we wish to see grow and continue to be the Bay of Plenty’s premier shopping centre. Our confidence to invest in this refurbishment supports the Government’s bold plans for the region.”

New additions to the centre, JB Hi-Fi, 123 Mart and Chii Health and Beauty had a warm welcome last month, attracting 23,500 people to the centre on opening day.

A first for the Bay of Plenty, home entertainment specialist JB Hi-Fi carries New Zealand’s biggest range of CDs, DVDs and games, plus a huge range of televisions, computers, cameras, iPods, sound systems and in-car entertainment.

New Zealand’s largest manchester specialist Bed, Bath & Beyond has opened its doors, increasing the choice in homewares for the centre’s shoppers.

There have also been additions to the food offer, including returning food retailers Nandos and Saaj Indian Cuisine.

Bayfair Shopping Centre Manager Andrew Wadsworth said, “The completion of this refurbishment marks a significant milestone in the history of the centre and the timing is ideal as Bayfair recognised its 25th anniversary.”

Bayfair has also welcomed back many of its existing retailers, who either closed temporarily during the refurbishment or operated from a temporary location. Hardy’s Healthy Living, Tank Juice Bar, Subway, Silvermoon, Rodney Wayne, Blueberry and Pero’s Hairtek are now trading from their new locations in the centre.

Whitcoulls and ANZ have also benefited from the refurbishment, unveiling new store frontages and creating an additional entry to their stores.

About Bayfair Shopping Centre

More than 80 of the Bay’s best stores are conveniently located under one roof, with seven-day opening and two late nights to accommodate busy lifestyles. Large-format stores include Farmers, K-Mart, Countdown and Woolworths. Bayfair provides a full range of services for customers, including parents’ room, wheelchairs, strollers and kiddy karts. We also have free interior and exterior parking for over 1600 vehicles.

Bayfair is committed to the local environment and is a strong supporter of the paper4trees project, which rewards schools in the local area with trees for their recycling efforts.

ENDS

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