Kiwi Property is advancing its $200 million-plus Sylvia Park expansion, revealing details in an NZX presentation this morning with at least one big new department store and 1500 extra car parks to cope with demand.

But which department stores is unspecified. Kiwi is only saying it will have "at least one" and that it will be upstairs as part of a vast 2-hectare floor space expansion.

David Jones has long been tipped to come to Auckland after opening in Wellington and Farmers has, as yet, no Sylvia Park outlet although Kiwi makes no mention of those two businesses.

Global retailers Zara and H&M are big Sylvia Park drawcards already but Kiwi has much grander plans and that includes bringing other global stores here.


"Kiwi Property has a significant development pipeline, focused on Sylvia Park, our flagship Auckland shopping centre," the business said it today's presentation.

The four-phase expansion is:

1. $200m galleria/south carpark with department stores:
This project is still in the planning phases, Kiwi said today, but will cost around $200m: "A second-level galleria addition will incorporate at least one new department store, a modern cafe court and an expanded retail offer incorporating new international brands plus around 900 new carparks," Kiwi's presentation said. This phase won't be completed until 2019/2020 but is in "advanced planning", the company said. It plans to build an extra 2ha or 20,000sq m of space, starting next year potentially.

A map released by the business shows its plans for the galleria/southern car park zone.

2. Construction of a new $80.2 million 10-level office block
This is near the main centre entrance way from the car park and is well underway. Kiwi said today that would have three ground floor food and beverage operators opening out to its new The Grove dining area and nine levels of office space above. The office block will be finished by April next year, Kiwi said.

3. Construction of the new $9.1m The Grove dining lane
This is costing $7.6m to complete is also well underway and due to finish before Christmas this year.

4. New five-level $36.3m central carpark
Now being built, due to be finished in November next year. It is rising between Zara and the south-eastern arterial and will have space for an extra 600 vehicles.

Kiwi has 14 assets valued at $2.8 billion of which $1.82b of assets are in Auckland.

The company's focus in the year ahead is on Sylvia Park but it also has opportunities at Northlands in Christchurch, The Base in Hamilton and in the longer term at Drury in Auckland, the presentation said.