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28 May 2015
We’re bringing urban chic to LynnMall with the addition of a new outdoor dining and entertainment precinct, as part of a $39 million redevelopment. Development works are well underway, with completion expected in November 2015.
After a 14-year absence, movies are coming back to New Lynn with operator, Reading Cinemas, launching into the Auckland market with a state-of-the-art, eight-screen cinema. Reading have committed to a 15-year lease and will be looking to change the face of cinema going with their offer.
In keeping with New Lynn’s industrial heritage, the adjoining dining precinct has been named ‘The Brickworks’, with design features being a nod to the area’s rich history. This north facing landscaped laneway will provide a number of dining options. A 500 sqm gastro bar and restaurant by Goode Brothers will reside to the front of the lane offering a substantial menu and incorporating outside seating options. They will be joined by a Union Hospitality Group restaurant presenting a woodfired BBQ offer in relaxed surroundings, the likes of which will be unique in this part of Auckland. The Bodrum Kitchen offer is influenced by the Mediterranean in both the food and the fitout, with a casually sophisticated aura. The uber cool Shaky Isles will provide a relaxed setting for coffee and food, with Hansan rounding out the food offer with a popular Vietnamese influence. The unique food offer at ‘The Brickworks’ is sure to excite both locals and visitors alike. Our design concept has been strongly supported by retailers. Including post year-end leasing activity, the development space is now 86% leased by area and 81% leased by budgeted income.
In addition, as part of the redevelopment, 4,000 sqm within the existing centre is also being reconfigured and re-leased. A new Noel Leeming store has already opened at the western end of the centre and Number One Shoes will soon re-open with new premises. We are also targeting new retailers to provide a wider, more exciting retail mix.
LynnMall’s net lettable area will increase by 4,700 sqm to approximately 37,000 sqm on completion. The projected value on completion has increased to $263 million, providing added value of $42 million over the $221 million invested in the centre (acquisition price and subsequent capital expenditure and redevelopment).