Portfolio overview

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.

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Key features

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.

Quality anchor

Two-level Farmers department store.

Key facts

Centre type CBD
Date acquired (constructed 1994) Jul-03
Last refurbished 2013
Net lettable area (sqm) 10,933
Tenants (no.) 26
Carparks (no.) -
FY16 net rental income ($m)¹² 7.8
Occupancy (%) 98.1
Weighted average lease term (years) 7.1
Agreed sale price ($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

Location

Centre Place – South

501 Victoria Street
Hamilton 3024

Visit Centre Place – South website

Get directions
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Our Centre Manager

To speak to our Centre Manager, please contact:

Maureen Pearce
Centre Manager

+64 7 839 8565
+64 21 978 034

Lease with us

We're passionate about providing exceptional spaces for retailers to flourish. If you are looking for great retailing space at Centre Place - South, contact our leasing team today.

Contact us