NZ's biggest-ever retail deal? Major Auckland mall hits the market

One of the country’s largest shopping centres, Auckland’s Botany Town Centre, has been put up for sale in what real estate agents say could be the largest single-asset retail transaction ever seen in the New Zealand market. Colliers and JLL have been jointly appointed to run an international expressions-of-interest campaign for the 60,825sq m centre, with bids closing October 14. While the companies have not put a public figure on the sale, Colliers capital markets director Richard Kirke told 1News he expected the centre to fetch in the vicinity of $450 million. "It's one of New Zealand's very best assets," Kirke said. "It'll get a lot of attention." The centre's Canadian pension-fund owners had not yet spoken to buyers, he said, but the size of the deal means the real contest will likely be fought out by offshore players with deep pockets.