Botany Town Centre starting its $78m expansion

Sunday, 18 February 2018

The Botany Town Centre $78m revamp will bring the total number of stores to more than 200.

Construction will begin this week on a $78 million expansion of one of Auckland's largest shopping centres.

Botany Town Centre will expand its floor area from just over 58,000 square metres to more than 62,700sqm.

The centre's 'Garden Lane' will also be renovated.

AMP Capital portfolio manager Nick Cobham said the development would include adding new retailers, refurbishing its 'Garden Lane' and fresh food precinct next to Work World supermarket, and expanding its 'alfresco dining offer'.

It will also refurbish the Hoyts entertainment precinct, which includes upgrading 1000 cinema seats.

* Bringing Botany community together

* Business as usual in Botany**

The shopping precinct on the corner of Ti Rakau Drive and Chapel Road in East Tamaki opened in 2001 .

It is currently Auckland's second-largest shopping centre by lettable area after Sylvia Park (71,000sqm).

The development is being overseen by AMP Capital Shopping Centres, AMP Capital's specialist retail division which has over A$10 billion (NZ$10.7b) in assets under management, which includes a portfolio of 30 shopping centres.

The Botany Town Centre is co-owned by two Canadian pension investment boards as part of their 13-asset property portfolio worth NZ$1.2b.

The centre will have more than 200 retailers once the construction is finished, which is slated for May 2019.

AMP Capital shopping centres development manager Paul Hudson said a number of retailers have already committed to the development, but he would not disclose brand names due to 'confidentiality reasons'.

The centre will still be operating during the construction, but four stores would close, and three relocated, he said.

Hudson said the Botany Town Centre has been 'future-proofing' the centre in recent months, which included civil works in its carpark and maintenance to prepare for the development.

Hudson called the development a part of Botany Town Centre 'part of a wider master plan for the centre'.

In a statement, AMP Capital said, 'The expansion follows the Auckland Council Unitary Plan's designation of Botany Town Centre as a metropolitan zoned hub.'

'Several Special Housing Areas and future residential growth areas have been identified surrounding the centre and have been fast tracked for development.The redevelopment will enable it to cater to the needs of the growing population within the community.'

Construction company Naylor Love was awarded the building contract.

Hudson said AMP Capital has been 'working with them over a number of months to mitigate construction risk and [he is] comfortable with the terms agreed'.

In 2013 the Botany Town Centre underwent a year and a half of repairs after it had been found to have leaking issues two years prior.

The work included the removal, fixing and replacement of most windows, roof membranes, external cladding and gutters throughout the centre.