Scentre Group Announces NZ$790M World-Class Westfield Newmarket Redevelopment

INCORPORATING PREMIUM DEPARTMENT STORE DAVID JONES

Scentre Group (ASX:SCG) today announced the commencement of its NZ$790 million (SCG share: NZ$400 million)* redevelopment of Westfield Newmarket, creating a world-class retail and lifestyle destination in the heart of Auckland.

Incorporating multiple sites over four and half hectares, the Broadway site will be home to Auckland’s first David Jones department store, a new format Farmers department store, Countdown supermarket and more than 230 new specialty stores.

Westfield Newmarket will showcase New Zealand’s best fashion, with a compelling mix of local and international designers, new-to-market brands and some of the most well-known retailers from New Zealand and Australia.

A rooftop lifestyle, dining and entertainment precinct, integrating a new state-of-the-art Event Cinemas complex offering V-Max and Gold Class, will encompass some of the country’s finest food and beverage experiences in a vibrant outdoor environment, providing Newmarket’s local community and the wider Auckland population with an exceptional leisure and hospitality experience.

Scentre Group Chief Operating Officer Greg Miles said: “We’re incredibly excited to be embarking on the transformation of Westfield Newmarket in collaboration with our joint venture partner, GIC.

On completion, Westfield Newmarket will represent a premium fashion, food, technology, lifestyle and entertainment experience unrivalled in New Zealand. Westfield Newmarket will become the flagship “living centre” for the Group’s New Zealand portfolio and set a new benchmark in extraordinary retail and lifestyle destinations.”

David Jones CEO David Thomas said:  “We know New Zealanders are well-travelled and fashion savvy with an appetite for international brands and world-class shopping experiences. We are focussed on exceeding these expectations when we open our first Auckland store as part of the exciting new Westfield Newmarket redevelopment. Our store will combine the best of New Zealand and international brands curated specifically for the discerning local market with our range of premium instore services, delivering an unparalleled experience to the region.”

The David Jones store will be the second in New Zealand since opening their first store in Wellington in 2016.

Westfield Newmarket will offer a range of bespoke concierge services that will set a new standard in customer experience including valet parking, a styling suite and hands-free shopping.

The new Westfield Newmarket will have a gross lettable area of 88,150 square metres and is due for completion in the fourth quarter of 2019.

For more information please contact:

Magdalen Ford, Senior Account Manager, Hustle and Bustle I +64 21 0227 9903 I [email protected]

Deb McGhie, Regional PR Manager, Scentre Group I (0275) 676 630 I [email protected]

Jess Makin, David Jones Corporate and Consumer Media Manager | +64 09 812 506 | [email protected]

*A$ $720 million (SCG share A$365 – million. Exchange rate as at 31 Dec 2017 1.1002)