Ann: ASSET: KPG: Kiwi Property secures New Zealand's first H&M store

• Release Date: 14/10/15 12:02
• Summary: ASSET: KPG: Kiwi Property secures New Zealand's first H&M store
• Price Sensitive: No
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					KPG
14/10/2015 12:02
ASSET
NOT PRICE SENSITIVE
REL: 1202 HRS Kiwi Property Group Limited

ASSET: KPG: Kiwi Property secures New Zealand's first H&M store

Kiwi Property announces today that international fashion retailer, H&M, will
open at Auckland's largest shopping centre, Sylvia Park in late 2016.

Chief Executive, Chris Gudgeon, said: "We are thrilled to be opening New
Zealand's first H&M store at Sylvia Park.
"Consumers the world over have come to know H&M as a leading fashion giant,
and to have secured their first New Zealand store at Sylvia Park is great
news for shoppers.

"Sylvia Park is a great opportunity for H&M to reach more than 700,000
Aucklanders within a 15-minute drive, with convenient access also available
by train and bus.

"The introduction of H&M to Sylvia Park is another step in our vision to
create a world-class retail offer at Sylvia Park, Auckland's most attractive
shopping destination," Mr Gudgeon said.

Mr Gudgeon added: "Earlier this year we announced a potential expansion of
the centre in response to the waiting list of retailers seeking stores.  A
range of exciting options are currently under consideration, including the
addition of further new international retailers, more specialty retail
stores, department stores and additional customer parking."
Kiwi Property will invest $7.7 million to accommodate H&M and upgrade
adjacent mall areas.

ABOUT SYLVIA PARK
Sylvia Park is New Zealand's leading shopping centre offering shoppers more
than 200 retailers in a single destination.  Developed by Kiwi Property and
completed in 2007, Sylvia Park comprises more than 88,000 sqm of high-quality
retail space, with more than 4,300 carparks.  Sylvia Park is centrally
located in the Auckland region and draws customers from across the city and
beyond.  Amenities include rail and bus public transport links and a wide
range of retail, dining, entertainment and services at both Sylvia Park and
the Sylvia Park lifestyle precinct (formerly the Apex Mega Centre).  It is
independently valued at more than $665 million.

Kiwi Property is currently evaluating a 20,000 sqm, $150 million expansion of
the centre's retail offer.  The retail expansion project is currently in the
pre-development phase (which includes design, consenting and pre-leasing),
with construction potentially commencing in 2017 for a possible 2018
completion.
Kiwi Property is also investigating a potential $50 million office
development at Sylvia Park, as part of its town centre vision for the site.

Sylvia Park has been a standout performer for Kiwi Property since opening in
2007. The centre has enjoyed strong growth in both retail sales and net
income, providing investors with an overall value gain of $180 million above
its original development cost.

> Ends

CONTACT US FOR FURTHER INFORMATION: INVESTORS
Chris Gudgeon
Chief Executive
[email protected]
+64 9 359 4011
mobile +64 21 855 907

Mathew Chandler
Investor Relations and Communications Manager
[email protected]
+61 458 110 042
direct +61 2 9519 5850

CONTACT US FOR FURTHER INFORMATION: MEDIA
Courtney Stayte
Account Manager
Porter Novelli
[email protected]
+64 27 373 5683

ABOUT US
Kiwi Property (NZX: KPG) is the largest listed property company on the New
Zealand Stock Exchange and is a member of the NZX15 Index.  We've been around
for more than 20 years and we proudly own and manage a $2.3 billion portfolio
of real estate, comprising some of New Zealand's best shopping centres and
prime office buildings.  Our objective is to provide investors with a
reliable investment in New Zealand property by targeting superior
risk-adjusted returns over time through the ownership and active management
of a diversified, high-quality portfolio.  To find out more, visit our
website kp.co.nz
End CA:00271721 For:KPG    Type:ASSET      Time:2015-10-14 12:02:46