One of New Zealand’s largest enclosed shopping centres, Northlands has been servicing its Christchurch catchment for more than 50 years. This single-level regional shopping centre has been progressively redeveloped over many years to meet demand and demographic shifts.
‘Langdons Quarter’, a new food precinct at the southern end of the centre opened in November 2018, complementing the adjacent HOYTS cinema offer.
quality shopping options with more than 110 specialty retailers on offer.
Northlands draws more than 300,000 customers from within a 15-minute driving radius.
more than 1,700 car parking spaces are provided.
|ownership interest (%)||100|
|date acquired (constructed 1967)||Mar-94/Mar-98|
|net lettable area (sqm)||39,853|
|net operating income ($m)||9.3|
|weighted average lease term (years)||2.9|
|adopted value ($m)||252.0|
|capitalisation rate (%)*||7.13|
|10-year internal rate of return (%)*||9.3|
|annual sales ($m)||286.0|
|specialty sales ($/sqm)||11,200|
|specialty gross occupancy costs (%)||12.3|
|pedestrian count (m)||8.1|
|*As at 31 March 2018 as assets were not independently valued at 30 September 2018.|
Unless otherwise stated, all statistics are for the six months ended/as at 30 September 2018.
Northlands offers a full range of fashion, entertainment, giftware, services and convenience with more than 110 retail stores including The Warehouse, PAK’nSAVE, Farmers, Countdown and HOYTS Cinemas.
department stores and DDS
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We're passionate about providing exceptional spaces for retailers to flourish. If you are looking for great retailing space at Northlands, contact our leasing team today.contact us