Westfield interest in Auckland underground shopping

By Phil Boeyen, ShareChat Business News Editor

Monday 3rd December 2001

Shopping centre company Westfield has put forward a formal proposal to build an underground retail concourse in central Auckland.

The proposal is to build the route under Queen Elizabeth Square as part of the Britomart project.

Auckland City Council says a concourse had been provided for in earlier Britomart plan at an estimated cost of $50 million but was dropped to save costs. However it then sought expressions of interest to build the concourse from the private sector.

"A number of parties expressed interest in the concept, however only one, Westfield (New Zealand) Ltd which owns the adjacent Downtown Centre, has made a formal proposal," the council says.

"A recommendation is being made to next Thursday's Finance and Corporate Business Committee that Westfield be granted an "exclusive right" until the end of May next year to investigate the feasibility of carrying out the project."

The report to the committee says there are a number of issues that need to be sorted out with Westfield but notes that the retail concourse will provide significant benefits for the city when compared to the current proposal for a 5-metre wide walkway.

Recently elected Auckland Mayor, John Banks, says the expression of interest from Westfield shows the potential for the council and the private sector to work hand in hand to provide amenities for the city.

The budget for redeveloping the controversial Britomart site is around $200 million.

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