Auckland One sells to Westfield for $121m
Monday 6 September 2004
Australian shopping centre operator Westfield and its Asian investment partners in joint venture company Auckland One have parted company over the multi-million dollar 10-year redevelopment of the 277 Broadway shopping centre in Auckland.The proposed development covers 7ha bounded by Broadway, Morrow St, Gillies Ave and Mortimer Pass.
By The LandlordThe deal came together last year after Westfield abandoned plans for another super mall in Nuffield St during talks to cooperate over the 277 centre redevelopment.
Newmarket residents were dismayed at the original scale of the proposed developments but Auckland City Council's regulatory and fixtures sub-committee gave approval "under stringent conditions that will make certain there will be no adverse effect on the surrounding area."
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