The Plaza
The Manawatu’s premium shopping destination is The Plaza, located in the heart of Palmerston North’s CBD. The centre extends over 32,000 sqm with more than 100 retail shops providing a wide mix of fashion, food, services and general retailing.
key features
diverse offer
more than 100 specialty retailers provide great shopping choice.
superb location
the centre occupies a commanding space in the heart of Palmerston North.
easy parking
there are more than 1,250 car parking spaces.
key facts
| ownership interest (%) | 100 |
|---|---|
| centre type | Regional |
| date acquired (constructed 1986) | Aug-93 |
| last refurbished/redeveloped | 2010 |
| net lettable area (sqm) | 32,221 |
| tenants (no.) | 105 |
| carparks (no.) | 1,251 |
| net operating income ($m) | 8.2 |
| occupancy (%) | 100.0 |
| weighted average lease term (years) | 3.3 |
| adopted value ($m) | 209.5 |
| capitalisation rate (%)* | 7.00 |
| 10-year internal rate of return (%)* | 9.0 |
| annual sales ($m) | 197.3 |
| specialty sales ($/sqm) | 9,600 |
| specialty gross occupancy costs (%) | 13.6 |
| pedestrian count (m) | 6.4 |
| *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 Plaza?
As the address for fashion, The Plaza always has something to explore, whether it’s the latest fashion or tantalising treats, there is something for everyone. Key retailers include Countdown, Farmers and Kmart.
76%
specialty
2%
mini-majors
16%
department stores and DDS
5%
supermarkets
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 Plaza, contact our leasing team today.
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