Centre Place – South
Centre Place – South, located adjacent to Centre Place – North in the heart of Hamilton’s CBD was extensively redeveloped in 2013. Kiwi Property sold this asset on 11 August 2016 and now manages the asset on behalf of a private New Zealand investor.
Centre Place - South in the Hamilton CBD has a retail offer complemented by a great range of indoor and outdoor dining options.
Plenty to eat
Huge variety of food offered in an outdoor dining lane and an indoor foodcourt.
High foot traffic
Over 5.5 million people pass through the Centre Place - North and Centre Place - South each year.
Two-level Farmers department store.
|Date acquired (constructed 1994)||Jul-03|
|Net lettable area (sqm)||10,933|
|FY16 net rental income ($m)¹²||7.8|
|Weighted average lease term (years)||7.1|
|Agreed sale price ($m)²||46.7|
|Capitalisation rate (%)²||7.25|
|10-year internal rate of return (%)²||9.74|
|FY16 total sales ($m)²||36.7|
|Specialty sales ($/sqm)²||4,300|
|Specialty gross occupancy cost (%)²||19.9|
|¹ Represents the combined income for Centre Place - North and Centre Place - South.|
|² As per 31 March 2016 valuation|
Statistics as at 30 September 2016 unless otherwise stated
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