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 Landlord

The 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."

Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.


Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer