Bayfair Shopping Centre is to undergo a $15 million refurbishment which will bring new stores and a new look to the exterior.
The first details of the investment - announced as Bayfair approaches its 25th anniversary - were revealed last night to the Bay of Plenty Times.
The project will
start in February and will be split into two stages, with work on the exterior of Bayfair expected to create a "contemporary look".
The first stage will involve a complete refurbishment of the Woolworths supermarket, including a widening of the entry. The store will remain open during the work.
Details of the refurbishment have yet to be made available.
Once this work has been completed, work will begin on stage two including a new layout to one of Bayfair's entrances - it was not revealed which one - plus new stores.
One of the new stores will be JB Hi-Fi.
The chain is regarded as being a leader in selling televisions, DVD players, cameras and home theatre products. Video games, music, and movies also form part of the chain's merchandise.
It will be the ninth North Island store for the chain and the first in the Bay of Plenty. The nearest store is in Hamilton.
Information on the number of other stores was not available today.
Bayfair manager Andrew Wadsworth said the refurbishment would meet the requirements that Tauranga's growth demanded.
"The numerous jobs being created during construction means that our local economy will benefit during and after the refurbishment."
Mr Wadsworth added shoppers would be given greater convenience and more choice in a "newly refreshed environment".
Yesterday's announcement is the fulfilment of planning that began when the shopping centre was owned by Tower Asset Management.
Tower had been planning an expansion that included an eight-screen cinema and more specialty shops.
It comes three-and-a-half years after Australian property fund, AMP Shopping Centre Fund, paid a record $121.5 million for a half share in Bayfair - the Bay's biggest commercial property deal.
The deal included management rights and was targeted by AMP Capital because Bayfair was regarded as a "terrific property" due to its dominance in an area of strong population growth.
Tauranga Chamber of Commerce vice-president Anne Pankhurst said the revamp was an exciting announcement for the city.
"It continues to reinforce the confidence that the Bayfair management have in this region and its future growth."
Ms Pankhurst said it was also a good sign for the local economy that a big player had the confidence to continue to invest.
The refurbishment will help anchor the shopping centre as the retail hub for that side of the city.
The announcement comes at a time when roading around the shopping centre was expected to be improved by the New Zealand Transport Agency, bringing the upgrade of the intersection of Girven Rd and Maunganui Rd into the eastern motorway project.
Traffic flows would be hugely improved by replacing the roundabout with a fully signalised intersection. No date has been set for the work.
Tauranga City Council was also signalling an expansion of Bayfair's commercial zoning in its draft review of the City Plan.
$15m revamp for Bayfair
Bayfair Shopping Centre is to undergo a $15 million refurbishment which will bring new stores and a new look to the exterior.
The first details of the investment - announced as Bayfair approaches its 25th anniversary - were revealed last night to the Bay of Plenty Times.
The project will
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