KPG and TGH form joint venture at Centre Place North

NZX RELEASE
1 April 2020
Kiwi Property and TGH form joint venture at
Centre Place North





Kiwi Property and Tainui Group Holdings (TGH) today announced the formation of a
50:50 joint venture over Centre Place North and a selection of adjoining properties. The
agreement paves the way for the creation of a mixed-use precinct in the heart of
Hamilton’s CBD.

Under the terms of the agreement, the joint venture will comprise Centre Place North,
61-65 Bryce Street, 511-523 Victoria Street and land at 10 Ward Street, with a combined
value of approximately $71 million. A new 100-year ground lease will be granted by TGH,
with rent pre-paid.
Kiwi Property CEO Clive Mackenzie said he was looking forward to building on the strong
partnership with TGH, which dates back to May 2016, when Kiwi Property acquired a
50% share of The Base.

“We’re delighted to be working with TGH to create an exciting new mixed-use
destination for the people of the Waikato and beyond. With its pivotal location in the
Hamilton CBD, Centre Place North has the potential to bring together an attractive
retail, office and perhaps even residential offering. The joint venture with TGH will enable
us to move more quickly to deliver this vision,” he said.

TGH CEO Chris Joblin said Centre Place North would play an important role in the
rejuvenation of Hamilton’s city centre.

“We are excited by the potential of this extension of our relationship with Kiwi Property in
Kirikiriroa-Hamilton. Building on our experience of working together as co-owners of The
Base, we want to bring a 100-year view and some visionary thinking to create something
vibrant and special to accelerate the ongoing transformation of the CBD,” Mr Joblin says.
ENDS
Contact us for further information:
Clive Mackenzie Chief
Executive Officer
clive.mackenzie@kp.co.nz
Campbell Hodgetts
Communications and Investor Relations
Lead campbell.hodgetts@kp.co.nz
0275 634 985

About us
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand
Stock Exchange and is a member of the S&P/NZX 20 Index. We’ve been around for over 25 years
and we proudly own and manage a significant portfolio of real estate assets, comprising some of
New Zealand’s best mixed-use, retail and office buildings. Our objective is to provide investors

with a reliable investment in New Zealand property through the ownership and active
management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi
Property a corporate credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its
fixed rate senior secured bonds. Kiwi Property is the highest rated New Zealand company within
CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of benchmarks and
tradeable indices for ESG (Environmental, Social and Governance) investors. Kiwi Property is
licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz



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