From car yards to shopping malls, Ross and Dallas Pendergrast have made a fortune developing a range of eye-catching and expensive buildings.
The couple’s previous investments include several properties on Auckland’s Queen Street, and malls in Manurewa, Royal Oak and Newmarket.
Their latest high-profile project has been Glenfield Mall, which the couple’s Ladstone Holdings group bought from Westfield spinoff Scentre in 2015 for a reported $104 million. They spent several years modernising and rebranding the mall, which was built in 1971 and had a major development in 1999, and put it on the market late last year but later withdrawn from sale.
The mall has four anchor tenants, is 98% leased and has 30,500sq m of net lettable area. With several updates it’s also much more vibrant than was the case several years ago; the weekly Sunday night market in the mall’s parking lot has only helped grow its reputation.
The Pendergrasts have homes on Waiheke Island and St Mary’s Bay, the former being a $7.6m clifftop property at Owhanake Bay. They also own a property in Fiji.
The two are often active in charitable endeavours, being well known for their arts support. They are gold sponsors of Waiheke’s biennial Headland Sculpture on the Gulf exhibition.
Photo: Norrie Montgomerie
2018: $165 million