AMP Capital sells Christchurch mall The Palms

The Palms. Photo: Geoff Sloan
The Palms. Photo: Geoff Sloan
AMP Capital has sold Christchurch shopping centre The Palms for $88.8 million.

Its exit at The Palms is part of a broader divestment strategy by the the Australian-based AMP Capital Shopping Centre Fund, reported the Financial Review.

The 34,395 sq m Shirley mall houses a Countdown, Farmers, brand new Chemist Warehouse, Reading Cinemas, and a restaurant and bar precinct.

Adelaide-based Di Mauro Group bought The Palms in a deal brokered by CBRE’s Simon Rooney and Brent McGregor, the Financial Review reported.

Rooney told the Financial Review three of the eight bidders for the asset were Australia-based.

DiMauro Group's portfolio includes North City mall in Porirua and West City in Auckland.

 

 

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