Centre Place a big hit for Kiwi Income

Kiwi Income opens Hamilton redevelopement

Crowds in Hamilton began to gather at 4am for the opening of Stock Exchange-listed Kiwi Income Property Trust’s Centre Place shopping centre yesterday.

More than 10,000 people are estimated to have attended the opening.

The redevelopment of the centre cost Kiwi Income $40 million excluding $7 million of non-capitalised costs, fees and incentives.

The centre is 95% leased, with 42 new retailers.  Anchor tenants include Farmers with a 7100sq m, two-level flagship store, featuring the only M.A.C cosmetic counter in Waikato.

Centre Place also features a new state-of-the-art cinema with the addition of Metro by Hoyts, a new brand for Hoyts cinemas and the first of its kind in New Zealand.

Metro by Hoyts features five digital cinemas and a bar plus “chill-out” space. The centre already features a Lido Cinema offering an arthouse experience with a further three screens.

There is also an outdoor contoured play space for children, green walls and street-scaping in a section of Ward St that has been closed to traffic, with a covered connection bringing the former Downtown Plaza and Centre Place Shopping Centre together under one roof.

c.hutch@clear.net.nz