The Boundary (shopping centre) explained

The Boundary
Coordinates:-36.8831°N 174.635°W
Opening Date:1980s
Developer:Colliers International Real Estate Management
Number Of Stores:23
Number Of Anchors:3
Floor Area:180270NaN0
Floors:1
Parking:800+
Website:The Boundary

The Boundary (formerly named Waitakere Mega Centre) is an integrated bulk retail shopping centre located in Henderson, a suburb in the west of Auckland, New Zealand. It is located on Vitasovich Avenue, approximately 15.7km (09.8miles) west of the Auckland CBD, and is immediately adjacent to the WestCity Waitakere mall. The centre is configured in four 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.[1] The work was completed in 1998.[2]

In November 2004, Urbus Properties, an NZSX-listed property company formed from the Waltus syndicate in May 2001,[3] commenced a $14.5 million refurbishment, and renamed the site Waitakere Mega Centre.[4] The impetus came from the departure of anchor tenant Foodtown, who had complained that the centre could not compete with the adjacent Westfield WestCity (later rebranded as WestCity Waitakere). 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 67330NaN0 Kmart store was demolished and replaced with 153 car parking bays, and Kmart moved into a 49260NaN0 new-format premises. An additional 62290NaN0 of retail space was added in the expansion.[2] 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.[6] Waitakere Mega Centre was sold in 2014 for $45.75 million to a Christchurch-based investor.[7] In 2017, it was rebranded as The Boundary.[8]

Transport

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

See also

Notes and References

  1. News: Waltus spending big in Auckland. 24 April 1997. The Dominion Post. 18.
  2. News: Waitakere Plaza gets makeover. Taylor. Colin. New Zealand Herald. 27 November 2004. E01.
  3. News: Urbus Properties turns on the charm. National Business Review. 18 May 2001.
  4. News: Waitakere Plaza awaits redevelopment. 9 April 2019. 17 November 2004. The New Zealand Herald.
  5. News: Merged ING trust becomes NZ’s second largest. Scoop.co.nz. 24 June 2005.
  6. Web site: Properties . 2007-08-03 . . https://web.archive.org/web/20070929062500/http://www.ingproperty.co.nz/WEB/webp.nsf/content/Properties . 2007-09-29.
  7. News: Argosy sells Waitakere shopping centre. 1 August 2014. 9 April 2019. Stuff.co.nz.
  8. Web site: Retail centre is now The Boundary. 8 December 2017. New Zealand Media and Entertainment.