Taranaki shopping mall changes hands for $32m

Tuesday 19 October 2004

New Plymouth's only shopping mall has been sold for $32 million.

By The Landlord

Capital Properties New Zealand Ltd announced yesterday it had entered into an unconditional contract to buy the 16-year-old Centre City complex from Durran Holdings in February.

The new owners plan to spend $6 million on improvements and upgrade work.

Capital Properties chief executive Chris Gudgeon said they had just spent five weeks carrying our extensive investigations to develop future plans for the centre.

Capital Properties is a long-term investor in commercial property and is listed on the New Zealand Stock Exchange Limited (NZX).

Its portfolio, worth nearly $430 million, includes Government and private sector offices in Wellington and Auckland.

Read More - Opens in a new window
Commenting is closed

Property News

Auckland sees highest sales since 2015

The SuperCity turned in its strongest housing sales performance in a July for five years last month, new data from Auckland’s biggest real estate agency reveals.

House Prices

Demand is keeping prices resilient

Stronger than anticipated demand from property buyers is helping to keep prices nationwide buoyant – and solidly up on last year - in the post-Covid housing market.


Augusta Capital takeover bid now unconditional

ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.


ANZ eases servicing test

ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.

Site by PHP Developer