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 Landlord

Multiplex 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."

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