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Shopping centre giant Westfield has rejected shop owner criticism about its Glenfield centre and dashed speculation it is considering developing apartments there.
Justin Lynch, director for Westfield New Zealand, said it was usual for the mixture of tenants to change and this was just part of the normal leasing cycle.
Worried shop owners have expressed concern about the evacuation of a large number of tenants lately, with a variety of giftware, pharmacy and apparel businesses shutting. Trading was abysmal since the new Westfield Albany opened last year, tenants complained, and some tenants have left Glenfield for the more upmarket Albany.
One store owner said she had seen plans for apartments to be developed at Glenfield.
Last year, Westfield said last year it wanted to sell its Glenfield and Pakuranga centres but no buyers have emerged, the retail trade has turned down considerably and the economy is in much worse shape.
Another large Australian-headquartered business, Centro Properties Group, has put its New Zealand properties up for sale.
Meadowlands Shopping Plaza and Kelston Shopping Centre properties in Auckland, Barringtons Shopping Centre in Christchurch and the majority portion of the Porirua MegaCentre in Wellington are on the block.
Lynch said the Glenfield centre's future was bright. "The retail mix at our centres - and any other shopping centre for that matter - does change as a normal part of the leasing cycle. Our standard leases are five to seven years with a staggered expiry profile.
"Westfield continues to be committed to the Glenfield asset which is a convenient family destination. Westfield has no plans to introduce apartments at the centre," Lynch said.
