New foodcourt & dining lane open at Centre Place Shopping

15 September 2011

New foodcourt and dining lane open at Centre Place Shopping Centre

Kiwi Income Properties Limited, as Manager of Kiwi Income Property Trust, today announced the opening of a new foodcourt and dining lane at Centre Place Shopping Centre in Hamilton, following the successful completion of a $10 million upgrade that commenced in April this year.

The centre upgrade has consolidated two existing foodcourts into one comprehensive new offer, comprising 10 food operators and 470 seats for diners - up from the current 300. The new foodcourt and seating area benefits from natural light with an outlook onto Ward Street West, an area that is planned to be upgraded in conjunction with Hamilton City Councils „City Heart Revitalisation vision.

The new dining lane, which fronts onto Bryce Street, incorporates six restaurant and café operators, some licenced, with a focus on lunchtime and evening trade. The works included the creation of an outdoor dining terrace with a sunny north-facing aspect.

Mark Luker, General Manager Development said: “This is an exciting and timely project, which reinforces Centre Place as the food and entertainment hub in Hamiltons CBD. We are pleased to be operational in time for Hamiltons first Rugby World Cup match at nearby Waikato Stadium this weekend.”

Shopper carparking in the city is becoming easier as a result of a number of Hamilton City Council initiatives. Access into Centre Place carpark is more shopper friendly with the ability to turn off Anglesea Street into Bryce Street and then into the carpark.

Council is also underway with works to improve access into the Garden Place carpark with the construction of a dedicated signaled intersection on Anglesea Street.
The redevelopment is fully leased with incremental net income generated from the completed upgrade project expected to provide the Trust a return of approximately 8.5% on total project costs.

ENDS

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