Westfield agreements mark milestone in development of Albany Town Centre

28 September 2006

Countries: New Zealand

Westfield today announced the successful completion of agreements to secure leading retailers and entertainment providers at its new Westfield Albany shopping centre. Farmers, New World supermarket, Kmart will all be opening stores within the centre and SKYCITY Cinemas will open a cinema complex. Westfield plans to complete in 2007.

The confirmation of these new tenants will result in the creation of a new town centre. Construction of the new centre began on 28 August 2006, following the completion of the earthworks to prepare the site.

The successful completion of our agreements with these leading anchor tenants marks a major milestone in the development of the Albany Town Centre, said Justin Lynch Deputy Director, Westfield New Zealand.

Were delighted to attract these quality retail and entertainment providers all leaders in their respective sectors. And were excited by the opportunity to create a state-of-the-art retail centre that will enhance the food, fashion, and shopping and entertainment experience for the people of Albany and the North Shore.

The Westfield development is a key initiative in the creation of a town centre that meets the retail and entertainment needs of Albanys growing population. The Albany land is a Greenfield area without existing structures that has allowed Westfield to design the new centre from scratch.

This is Westfields first Greenfield project in New Zealand, said Justin Lynch. The site has given us the opportunity to deliver to the residents of North Auckland an exciting mix of leading retailers from across all sectors, without the constraints that usually hinder developments of existing sites.

The Westfield development incorporates a Civic Plaza, which overlooks the future parkland and lakes, offers alfresco dining, restaurants, bars, entertainment and cinemas.

The new centre will be integrated with the existing Pak n Save supermarket and Mega Centre and is designed to integrate with North Harbour Stadium, Massey University and Albany Village. It has convenient access from the motorway and will have over 2000 public car spaces and convenient bus links to the North Shore bus interchange.

Foodstuffs (Auckland) Managing Director, Tony Carter, says Foodstuffs is looking forward to adding Foodstuffs premium New World supermarket offer to the very successful Pak n Save operation located adjacent to the centre.

This premium offer will complement the fashion and food stores within Westfield Albany and we are looking forward to contributing to the success of the complex. We invest considerable time to ensure we design our stores to fit the surrounding community and environment and provide the best shopping experience possible to our customers. Were delighted to be bringing our new generation New World to Albany.

SkyCity Cinema Chief Executive Officer, Joe Moodabe, says hes excited to be able to offer a SkyCity Cinema complex to the North Shore residents. We will be bringing a 10 screen complex, featuring a large format Mega-Screen, which will predominantly screen blockbuster and special event movies. The more luxurious cinema option, our two exclusive Gold Class auditoria and lounge, will also be offered, providing the ultimate in luxury cinema experience, said Mr Moodabe.

The integration of shopping and entertainment has proved to be successful overseas, agrees Farmers CEO, Rod McDermott. Albany is fast developing as a vibrant area and we are very impressed with the Westfield site, which is unsurpassed in terms of accessibility and visibility. Were delighted to be introducing the full Farmers store offering to the region. Farmers new Albany store will be the largest and most beautiful in the country.

Kmarts Regional Manager of New Zealand, Chris Brownlee, is excited to open a Kmart store at Westfield Albany, which will be Kmarts first store on the North Shore. Were looking forward to launching our new store which will offer a wide range of unique and competitive products to the North Shore community, Mr Brownlee said.

Westfield has worked closely with the North Shore City Council to ensure that the centre aligns with the needs of the broader Albany City. A key objective of the planning process undertaken with the Council was to create a centre that was environmentally sustainable, cohesive with the city (linking residential, transport and council services), and delivered an aesthetically viable focal point for the community. A key component for Westfield is the addition of externally trading retail.

Westfield believes the investment will contribute to growth on the North Shore through the estimated 1065 direct construction jobs and 1539 retail positions being created as a result of the development.

Westfield owns two additional shopping centres on the North Shore Westfield Glenfield and Westfield Shore City. Together with Westfield Albany, they will form part of Westfields three-centre strategy for enhancing retail shopping and entertainment on the North Shore.

ENDS

For further information contact:
Linda Trainer
National Marketing and Communications Manager
Westfield NZ
Telephone: 09 978 5050 or 0275 200 774
Email: ltrainer@nz.westfield.com