Waitakere Mega Centre

The Boundary
Location Henderson, Auckland
Coordinates 36°52′59″S 174°38′06″E / 36.8831°S 174.6350°E / -36.8831; 174.6350Coordinates: 36°52′59″S 174°38′06″E / 36.8831°S 174.6350°E / -36.8831; 174.6350
Opening date 1980s
Developer Colliers International Real Estate Management
Management Colliers International
Owner Waitakere Mega Centre Limited
No. of stores and services 21
No. of anchor tenants 3
Total retail floor area 16,551 m2 (178,153 sq ft)
No. of floors 1
Website The Boundary
Information from ING Property.[1]

Waitakere Mega Centre (recently rebranded to The Boundary in 2017) is an integrated bulk retail shopping centre, located in Henderson, a major suburb of Auckland (formerly Waitakere City), New Zealand, on Vitasovich Avenue approximately 15.7 kilometres (9.8 mi) west of the Auckland CBD immediately adjacent to Westfield WestCity (now WestCity Waitakere). The centre is configured in 4 freestanding blocks and draws from substantial undercroft parking facilities.

History and development

In 1994, Wellington-based Waltus Investments acquired the site, then known as Waitakere Plaza, which contained Kmart, Foodtown, four specialty stores and a food court. In April 1997, Waltus committed to a NZD $5.2 million expansion and refurbishment of the centre, with the intention of turning it into a niche bulk retailing centre. The development, funded by bank loans, was based on the needs of the two new anchor tenants, Briscoes and Rebel Sport, who had just signed nine-year leases.[2] The work was completed in 1998.[3]

In November 2004, Urbus Properties, an NZSX-listed property company formed from the Waltus syndicate in May 2001,[4] commenced a $14.5 million refurbishment, and renamed the site Waitakere Mega Centre. The impetus came from the departure of anchor tenant Foodtown, who had complained that the centre could not compete with Westfield WestCity. The redevelopment, which took place over 2005 and 2006, saw the centre modified to a U-shaped design with the shops facing onto car parking, in line with other centres at Mount Wellington and Albany. The original 6,733 m2 (72,473 sq ft) Kmart store was demolished and replaced with 153 car parking bays, and Kmart moved into a 4,926 m2 (53,023 sq ft) new-format premises. An additional 6,229 m2 (67,048 sq ft) of retail space was added in the expansion.[3] On 24 June 2005, ING acquired Urbus Properties, becoming New Zealand's second-largest listed property vehicle.[5]

As at 31 January 2007, the centre was valued at $39,991,000 NZD.[1] Waitakere Mega Centre was sold in 2014 for $45.8M to a Christchurch-based investor.[6]

Transport

The centre is accessible via the nearby Henderson railway station and by bus services from Britomart Transport Centre and New Lynn railway station.

References

  1. 1 2 "Properties". ING Property. Archived from the original on 2007-09-29. Retrieved 2007-08-03.
  2. ↑ "Waltus spending big in Auckland". The Dominion Post. 24 April 1997. p. 18.
  3. 1 2 Taylor, Colin (27 November 2004). "Waitakere Plaza gets makeover". New Zealand Herald. p. E01.
  4. ↑ "Urbus Properties turns on the charm". National Business Review. 18 May 2001.
    * Gibson, Anne (22 July 2003). "Urbus listing debut completes renewal". The New Zealand Herald.
  5. ↑ "Merged ING trust becomes NZ's second largest". Scoop.co.nz. 24 June 2005.
  6. ↑ "Waitakere Mega Centre sold for $45.8M". www.newshub.co.nz/business/waitakere-mega-centre-sold-for-458m-2014080111. 31 July 2014.
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