This article is from the Australian Property Journal archive
MAB Funds Management has developed a new store under an exclusive arrangement at Trafalgar Square Shopping Centre in Wanganui New Zealand.
The 1100 sqm Rebel Sports store opened for business this month with the company signing a nine-year lease expiring 2015 with MAB Diversified Property Trust.
Trafalgar Square Shopping Centre is part of the MDPT, an unlisted unit trust which owns 11 retail, office and industrial properties throughout Australia and New Zealand.
MDPT purchased in the centre in August 2005 for $13.1 million. The property has a total lettable area of 14,061 sqm on a site area of 2.635 hectares with car parking for 473 vehicles.
In addition to Rebel Sports, the property is currently tenanted by Progressive Limited (trading as Countdown supermarket) and The Warehouse Limited.
Progressive is set to expire in November 2009, while the Warehouse Ltd will expire in June 2010.
By Adam Parsons