The Base
The Base is New Zealand’s largest single-site retail asset, located in Hamilton’s growing northern suburbs. This dominant asset comprises both an enclosed regional shopping centre, Te Awa, as well as large format retailing. Kiwi Property is proudly partnering with Tainui Group Holdings in a 50:50 joint venture. Kiwi Property manages the entire asset for the joint venture.
key features
great retail offer
more than 160 retailers to choose from.
ample carparking
more than 3,300 carparks are available. There are no time limits here, so feel free to stay and enjoy shopping the whole day.
high visibility
the centre is adjacent to the main trunk railway, and at the intersection of State Highway One and the main east and west arterial routes.
free eco friendly shuttle service
no need to struggle carrying all your shopping bags when you can ride in our free eco friendly shuttle service.
key facts
| ownership (%) | 50 |
|---|---|
| centre type | Regional |
| date acquired (constructed in stages: 2004-2014) | May-16 |
| last refurbished/redeveloped | 2018 |
| net lettable area (sqm) | 85,549 |
| tenants (no.) | 162 |
| carparks (no.) | 3,343 |
| net operating income ($m) - 50% interest | 6.0 |
| occupancy (%) | 99.9 |
| weighted average lease term (years) | 3.0 |
| adopted value ($m) - 50% interest | 203.5 |
| capitalisation rate (%)* | 6.25 |
| 10-year internal rate of return (%)* | 8.1 |
| annual sales ($m) | 148.3 |
| specialty sales ($/sqm) | 10,600 |
| specialty gross occupancy costs (%) | 11.6 |
| pedestrian count (m) (Te Awa only) | 4.7 |
| *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 The Base?
Te Awa is anchored by Farmers and HOYTS Cinemas while the large retail format is anchored by The Warehouse and Mitre 10 Mega.
52%
specialty
26%
mini-majors
12%
department stores and DDS
5%
home and living
4%
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 The Base, contact our leasing team today.
contact us