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Farmers to join Sylvia Park

Kiwi Property is pleased to announce that it has secured New Zealand’s leading department store operator, Farmers, to become Sylvia Park’s latest department store.

Farmers has agreed to lease 8,000 sqm of space to create a new two level flagship department store as part of Sylvia Park’s proposed galleria retail expansion.

Chris Gudgeon, Chief Executive of Kiwi Property, said: “It is now 10 years since we first opened our doors to customers at Sylvia Park, and the consistent message we have received from our shoppers is that they would love to see Farmers at Sylvia Park.”

“Farmers is a beloved New Zealand brand and a perfect fit for our expansion plans for the centre, which could comprise up to 20,000 sqm of additional retail space,” said Mr Gudgeon.

Mr Gudgeon noted that Kiwi Property was planning to be in a position to give the green light to its Galleria expansion project by mid-2018, following board approval.

Aubrey Cheng, Manager – Retail Leasing, said: “From the moment we announced our planned expansion of Sylvia Park, we have enjoyed strong tenant enquiry from quality local retail brands, as well as in-demand international retailers, some of whom, if secured, would be new to the New Zealand market.”

The Farmers deal comes as Sylvia Park has been named as New Zealand’s favourite shopping centre to visit in a nationwide Nielsen survey[1].  In the survey, Sylvia Park was named as the leading shopping centre in New Zealand on three measures:

  • the most visited
  • visited in the past four months, and
  • favourite centre nation-wide.

Sylvia Park is home to more than 200 retailers – including New Zealand’s first H&M and ZARA – and attracts over 14 million visitors every year.

“Our vision for Sylvia Park is to create a truly world-class retail offer, with the objective of positioning the centre firmly as Auckland’s most attractive shopping destination.  Based on the latest finding from Nielsen, we are already well on our way to achieving that,” said Mr Gudgeon.

Kiwi Property is currently delivering an $80 million, 10-level office building on the site, as well as a new $9 million outdoor dining lane, The Grove, and additional carparking at a cost of $36 million.

The planned Galleria expansion, which Farmers would anchor, will feature:

  • new international brands and concept stores including selected retailers from Sylvia Park’s current waiting list of specialty tenants
  • a next generation, sophisticated and welcoming café court, and
  • new multi-deck carparks with seamless transition from the surrounding road network.

It is anticipated that the Galleria expansion could be completed in 2020.

Last week, Kiwi Property named the final restaurateurs who will join the new dining precinct, The Grove, at Sylvia Park, which is due to open during December.  Cleaver & Co, The Little District and Birdie’s Bar and Deli will join taste sensations Mexico, Better Burger, Hawker & Roll, Casablanca, Wagamama, Garrison Public House and The Coffee Club at Auckland’s latest dining district.

[1] The survey was conducted by Nielsen from 20 February to 13 March 2017 and had a sample size of 2,507 interviews, with a predicted margin of error of +/- 2.0% at the 95% confidence level.

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