Makeover possible for Aussie owned Christchurch mall
Saturday 15 May 2004
The new Australian owners of Christchurch's South City Centre shopping mall, have no immediate refurbishment plans, but have hinted at a makeover down the track.
By The LandlordMultiplex Property Trust, a division of Australian Stock Exchange listed Multiplex Group, earlier this week bought the Christchurch mall for $A34.8 million ($NZ40.5 million).
Fund manager Chris Judd said he had confidence in Christchurch's retail market.
"We're happy that the New Zealand market overall is fundamentally sound," Mr Judd said.
"With South City, at an investment level, we're very happy with the current returns that shopping centre is going to provide us with."
"In the medium-term we'll look to refurbish and extend," he said. "We'll be doing some masterplanning over the next 18 months."
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.