CBRE and Deutsche Craigs are managing an expressions of a leasehold interest campaign for Tainui Group Holdings which intends to sell a 50 per cent share of Te Awa, The Base.
Te Awa, The Base is Hamilton’s largest mall encompassing 200 retail tenancies, including Farmers, Dress Mart, Mitre 10 Mega, The Warehouse, Briscoes, Rebel Sport, Noel Leeming, Heathcote Appliances and Dick Smith. The mall is said to generate $21 million annual income.
The mall boasts 31 ha accompanied by a floor area of 8.5 ha and a 6.25 ha block of vacant land up for development.
Capital from the sale will be allocated to different asset classes in Waikato and Auckland.
The deal is valued at $100 million.
