AMP Asset Management today announced that its refurbishment of LynnMall in West Auckland has come in under its budget of $64 million.
LynnMall is one of New Zealand's biggest shopping centres with over 30,000 square metres of retail space.
"To come in four per cent under budget and on time with the LynnMall refurbishment is a great feeling," said James Darkins, Head of Property at AMP Asset Management.
"The LynnMall project chose local firm R. Savoury Ltd to build the centre. We have been delighted both with the results and being able to directly inject $61.8 million into the Auckland economy through the project."
LynnMall's grand opening will be held on Friday 16 July and will feature a launch by the Prime Minister and a giant public fireworks display. The centre houses 110 retail premises with around 600 full and part time employees, and averages 120,000 visitors a week, making it one of the country's busiest malls.
The refurbishment began in early 1997 and was phased to allow continual trading and public access to the centre during construction. The new look LynnMall features high ceilings, functional and ornate finishes, terrazyte floors and three spectacular atriums.
LynnMall has an extremely high parking ratio with parks beside and above the shopping centre. In addition to this it features energy efiicient controls for interior lighting, automatically adjusting the illumination to fit the day as well as energy environmentally friendly air conditioning.
AMP Asset Management is New Zealand's largest investment company managing funds of over $9 billion. It is also the country's largest property investment company, managing a property portfolio of 1.4 billion.