Details of $350m Britomart revamp unveiled

11.00am

A $350 million heritage makeover of downtown Auckland was unveiled today to replace the derelict Britomart precinct and return the city's bygone trading area to its former glory.

The 5.2 hectare site will be turned into a precinct of shops, cafes, apartments, businesses and a new public square to link the central business district with the waterfront and create a vibrant and safe area 24 hours a day.

Queen Elizabeth Square, Britomart Place, Quay and Customs Street will border the Britomart precinct.

Last night the Auckland City Council signed off on the development by Bluewater Consortium, billed as the largest heritage restoration project ever undertaken in New Zealand.

It will include a new public space called Takutai Square, the restoration of seventeen heritage buildings and construction of six new buildings, including a car park for 675 cars.

The carpark will be built by Bluewater and owned and operated by the council with 450 allocated and 225 short-term spaces. Some of the allocated car parks will be owned or leased by residents.

Auckland City currently owns all the buildings and land. Under the deal, Bluewater will buy some buildings and lease others from the council for $32 million.

All of the properties will revert back to council ownership after 150 years and the area above the transport centre will return to council ownership after 50 years, if needed for transport purposes.

Mayor John Banks said the council was committed to preserving the history of Auckland.

"The restoration of the surrounding late Victorian and early Edwardian warehouse buildings, along with many new developments and public open spaces, will return the city's bygone trading area to its former glory."

The Bluewater Consortium is a joint venture of Peter Cooper, with experience in mixed-use developments in the United States, the large-scale construction experience of Australasian developers Multiplex and Auckland heritage restoration specialists Phillimore Properties.

The Auckland City Council had received 14 proposals from developers and last year shortlisted them to four who were required to develop plans, timetables and financial details.

The finalists were Bluewater Consortium and Melview Developments. In November 2003 the council announced it would negotiate with Bluewater.

Bluewater takes possession of the site in June and work on the streetscapes and heritage buildings will start immediately. The Britomart precinct is due to be finished within five years.

- HERALD STAFF


Bluewater Consortium:
Britomart precinct overall site plan