The Warehouse at The Base shopping centre at Te Rapa. Owner Tainui is selling half of its stake in the centre. Photo/ Christine Cornege
NZX listed Kiwi Property has bought a half share of Hamilton's The Base shopping centre for $192.5 million but wants to buy the entire property.
Chris Joblin, Tainui Group Holdings chief executive, has just announced the sale after the business put a half stake in its huge retail centre up
for sale last year.
Joblin said Kiwi had offered to buy the remaining 50 per cent of The Base for a further $197.5 million in cash and shares "which will be reviewed by TGH and Waikato-Tainui in the weeks to come."
He also announced that Kiwi would manage the centre.
Kiwi is one of New Zealand's biggest shopping centre owners.
