Retail in Asia

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NZ’s biggest retail property auctions announced

Retail outlets at two of New Zealand’s biggest shopping centres have been placed on the market for sale in what will be one of the biggest single sell-downs of retail properties ever to be held in the country.

Some 23 units at the Westgate Shopping Centre in West Auckland, and 12 sites at the Fraser Cove Shopping Centre retail outlets are up for sale through either auction or tender – with combined values estimated to top a combined total of NZD75 million (USD53 million). Both shopping centres are owned by companies associated with New Zealand Retail Property Group Management Ltd.