Northlands Shopping Centre

Northlands is a substantial freestanding single-level regional shopping centre, constructed in 1967.  The centre was extensively redeveloped in 2004 to incorporate an enviable mix of anchor tenants, making it the dominant shopping centre in northwest Christchurch.

Kiwi Income Property Trust acquired 50% of Northlands in March 1994 and the remaining 50% in March 1998.

Kiwi Income Property Trust (KIP or the ‘Trust’) is New Zealand’s largest listed diversified property trust with $1.85 billion (as at 31 March 2010) invested in a diversified portfolio of retail and office assets located throughout New Zealand. The Trust also has a mandate to invest in industrial properties as and when the opportunities arise.

The Trust was founded in 1992, and a year later became New Zealand’s first listed property trust.  KIP invests only in New Zealand real estate, a mandate which it has followed since inception.  At 31 March 2010 the Trust’s portfolio comprises 14 assets located across New Zealand.  

The Trust is managed by Kiwi Income Properties Limited, a company which is ultimately owned by Colonial First State Global Asset Management, the largest manager of Australian-sourced funds, and in turn the Commonwealth Bank of Australia. 

The Trust’s vision is to be New Zealand’s leading property investment vehicle with a diversified portfolio of high quality assets providing superior returns. 

The Trust’s objective is to optimise earnings and provide attractive long-term sustainable returns to investors through the strategic acquisition, professional management and ongoing development of office, retail and industrial property assets.