SIZEABLE Australian investment and retail development group is currently identifying and sourcing shopping centre and supermarket sites throughout New Zealand as potential acquisition targets.
Major real estate operators Bayleys have been formally engaged with a commercial brief to find sites that can range in type from suburban neighbourhood shopping centres of as little as 2000sqm through to full scale shopping mall complexes with locations in both provincial and metropolitan areas.
The Australian company has not been named but it has investment and development arms and the preference is to acquire centres that may need some degree of tenant reformatting in either store size or retail mix – or some redevelopment or expansion work.
The Australian company has also said that a straight forward passive investment in sites was also an option.
Supermarket News has asked Bayleys for further information on the buyer but the company said a confidentiality clause was in place.
However Supermarket News understands that owners and managers of some 165 retail shopping centres throughout New Zealand and an additional 100 supermarket owners and managers hve been directly approach to open discussions with Bayleys.
Bayleys principal David Bayley (left) along with Bayleys retail sales and leasing manager Ed Donald are leading the discussions.