About the project: Scentre Group (ASX:SCG) today announced the commencement of its NZ$790 million (SCG share: NZ$400 million)* redevelopment of Westfield Newmarket, creating a world-class retail and lifestyle destination in the heart of Auckland.
Incorporating multiple sites over four and half hectares, the Broadway site will be home to Auckland’s first David Jones department store, a new format Farmers department store, Countdown supermarket and more than 230 new specialty stores.
Westfield Newmarket will showcase New Zealand’s best fashion, with a compelling mix of local and international designers, new-to-market brands and some of the most well-known retailers from New Zealand and Australia.
A rooftop lifestyle, dining and entertainment precinct, integrating a new state-of-the-art Event Cinemas complex offering V-Max and Gold Class, will encompass some of the country’s finest food and beverage experiences in a vibrant outdoor environment, providing Newmarket’s local community and the wider Auckland population with an exceptional leisure and hospitality experience.
Scentre Group Chief Operating Officer Greg Miles said: “We’re incredibly excited to be embarking on the transformation of Westfield Newmarket in collaboration with our joint venture partner, GIC.
On completion, Westfield Newmarket will represent a premium fashion, food, technology, lifestyle and entertainment experience unrivalled in New Zealand. Westfield Newmarket will become the flagship “living centre” for the Group’s New Zealand portfolio and set a new benchmark in extraordinary retail and lifestyle destinations.”