Communication

Bayfair Shopping Centre opens first phase of NZ$115 million development

By AMP Capital media team

Bayfair Shopping Centre has officially opened the first stage of the its NZ$115 million development with an expanded footprint and new retail offering.

Thirty new retail stores will be joining Bayfair, representing some of the best and most exciting retail Australasia has to offer including Mecca Maxima, Platypus Shoes, Redcurrent, Collette, The Source Bulk Foods, Peter Alexander, Cotton On Mega, Dotti, Macpac, Portmans and Jacqui E.

On completion in 2019, the development, which is being managed by AMP Capital on behalf of co-owners Fisher Funds Management Limited and the AMP Capital Shopping Centre Fund, will see the centre become a fully-integrated, single-level enclosed shopping centre. An additional 9,000sqm will see the centre’s total footprint expand to 42,000 sqm including more than 50 additional specialty stores and an alfresco dining precinct to complement what will be the largest cinema complex, United Cinemas, in the Bay of Plenty.

AMP Capital Shopping Centres Managing Director Mark Kirkland commented: “Today we’ve opened the doors on the first stage of the shopping centre’s redevelopment. The opening, which is the largest in terms of additional stores and an expanded area, marks a major milestone for the NZ$115 million development and for the loyal customers and community of Bayfair, who are excited to see the vision for the centre come to life.”

The investment in Bayfair Shopping Centre represents a significant measure of confidence in the region and will support new business and employment opportunities. The development has already created more than 400 construction jobs under the project management of Fosters Construction. On completion, it is estimated the centre and its retailers will employ an additional 500 people.

AMP Capital Shopping Centres managing director Mark Kirkland
AMP Capital Shopping Centres managing director Mark Kirkland

Once complete, the new-look Bayfair Shopping Centre will celebrate the Bay of Plenty and the best of its coastal and urban lifestyle and is set to be the region’s year-round retail and entertainment destination.

Bayfair is also pleased to be introducing not only some of New Zealand’s most popular clothing and lifestyle brands but also a number of brands that represent the sustainable future that Bayfair has been creating and advocating for since 2003.

Already with a presence in the Bay, Barkers will open its new Groom Room barbershop concept and Stirling Sports a brand-new store concept, a first in New Zealand. Rodd & Gunn and Max have expanded into brand-new, larger stores, and The Coffee Club and Dominos have returned to the centre.

Opening celebrations will run over four days with retailers, customers and the community all getting in on the fun.

To follow all the news about Bayfair’s stage one opening and the ongoing development, visit https://www.bayfair.co.nz/development and www.facebook.com/bayfairshoppingcentre #bayfairmoretolove #moretolove

Development details

  • On completion, Bayfair will be a fully-integrated, single-level, enclosed shopping centre. 
  • The development expands the centre’s footprint by 9,000m² to a total of 42,000m², and adds another 50 specialty stores, including a strong fashion mix new to the centre and the region, for a total of 150 stores. 
  • Fresh new Countdown supermarket.
  • Approximately 1,800 car park spaces, and cycle parking.
  • The Bay of Plenty’s largest cinema complex, United Cinemas, with seven screens, more than 1,300 seats and Dolby Atmos sound system.
  • Integrated alfresco dining precinct to complement the nearby cinema complex, with up to eight restaurants and casual food eateries including licensed operators.
  • Accessible facilities such as a quiet room and up-to-date family facilities including additional parents’ room.
    Note: Renders are available on request.

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Important notes

This article has been prepared to provide general information and does not constitute 'financial advice' for the purposes of the Financial Advisors Act 2008 (Act). An individual investor should, before making any investment decisions, consider the information available in the relevant Product Disclosure Statement and seek professional advice. While every care has been taken in the preparation of this document, AMP Capital Investors (New Zealand) Limited and the AMP Group (together, 'AMP') make no guarantee that the information supplied is accurate, complete or timely and do not make any warranties or representations in respect of results gained from its use. The information is not intended to infer that current or past returns are indicative of future returns. The views expressed are those of the author and do not necessarily reflect those of AMP. These views are subject to change depending on market conditions and other factors.

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