5 Sep 2014

DNZ looks to the future of retailing

4:26 pm on 5 September 2014

One of New Zealand's largest investment property companies is developing its new Westgate retail mall with the future of retailing in mind.

DNZ Property Fund already has leased more than 70 percent of the 34,000 square-metre property, which will have a Farmers department store and a Countdown supermarket as anchor tenants, as well as 90 other speciality stores.

DNZ Property Fund chief executive Peter Alexander said Westgate was on track to open on time on October 1 next year and would be within the $155 million development budget.

He said the type of retailers signing leases in the mall reflected the growing impact of online shopping, and the company wanted to to adapt to this.

"We're just taking a little time to make sure we've got the scale and the design of that project right fo the current market."

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