In May 2015, GYP Properties purchased Pakuranga Plaza, a vibrant neighbourhood shopping centre in a prime East Auckland location, 16 kilometres from Auckland’s Central Business District.
With long term redevelopment plans, GYP’s vision is to create not just a shopping centre, but a town centre and community hub. A centre that will be further enhanced by retail, commercial, residential and hospitality offerings over the coming decade.
Pakuranga Plaza is ideally located on the corner of two regional arterial roads, Pakuranga Road and Ti Rakau Road, and is near the Tamaki Estuary coastline. It serves as a local town centre, acts as a gateway to the eastern suburbs and is surrounded by established facilities and exciting developments. Pakuranga Plaza is central to Phase II of The Auckland Manukau Transport Initiative which includes a busway from Panmure Station to Pakuranga town centre, a new bus station at Pakuranga town centre, and new sets of traffic lights around the town centre to improve acccessibility.
Known locally for its easy, stress-free, everyday shopping, Pakuranga Plaza is centrally located at the gateway to East Auckland. The Plaza has 28,000 square metres of retail in a mix of internal and strip retail tenancies along with 1,400 carparks. The centre currently sees approximately five million people through its doors annually and is anchored by three well known tenants – Countown, Farmers and The Warehouse.
In addition to offering a specialty retail mix, Pakuranga Plaza also houses a popular foodcourt. The centre is also a local business hub with five banks, a NZ Post in the area and the recently refurbished Plaza Tower office, and also includes community amenities such as Pakuranga Library, Howick Local Board and Plunket.
With the recent re-zoning of Pakuranga into a town centre, the centre and surrounding land purchased provides significant redevelopment opportunities for GYP. An estimated 4-hectare development purchased for NZ$96 million, GYP expects to develop the town centre over the course of the next decade to create an enhanced retail centre that includes hospitality, commercial, residential and community components.