Northlands
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. We are now underway with the construction of ‘Langdons Quarter’, a new food precinct being created at the southern end of the centre and complementing the adjacent HOYTS cinema offer.
key features
outstanding mix
quality shopping options with more than 110 specialty retailers on offer.
strong demographic
Northlands draws more than 300,000 customers from within a 15-minute driving radius.
plenty of parking
more than 1,700 car parking spaces are provided.
key facts
| ownership interest (%) | 100 |
|---|---|
| centre type | Regional |
| date acquired (constructed 1967) | Mar-94/Mar-98 |
| last refurbished/redeveloped | 2018 |
| net lettable area (sqm) | 39,853 |
| tenants (no.) | 112 |
| carparks (no.) | 1,708 |
| net operating income ($m) | 9.3 |
| occupancy (%) | 100.0 |
| weighted average lease term (years) | 2.9 |
| adopted value ($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.
who's at Northlands?
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.
65%
specialty
5%
mini-majors
11%
department stores and DDS
16%
supermarkets
3%
cinemas
our centre manager
To speak to our Centre Manager, please contact:
lease with us
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.
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