The buyer is described as a seasoned property investor who has a significant retail and supermarket portfolio.
Tim Rookes, the managing director of real estate firm CBRE Christchurch, which marketed the centre, said the buyer is a specialist property owner and developer. He takes ownership in April.
“The sale is very positive for the centre,” Rookes says.
The retail market was challenging at the moment, but the new owner had some great ideas, he said.
“He is working with the current owners on initiatives and ideas.”
The shopping centre buildings only supermarket as the anchor tenant, as well as retail stores. It was offered for sale by deadline private treaty.
The lettable area on the 27,021 square metre site is 5790sqm.
The centre fronts on to Carters Road (State Highway 1) through the town centre. There is also access off Amberley Beach Road.
When the property went on the market, Rookes said there had been unprecedented results in commercial sales this year. There had been a spike in owner-occupier enquiry, fuelled by low interest rates.
He had anticipated good national interest in Brackenfields, as supermarket-anchored investments were seldom available for purchase.
The centre opened in May 2014, with a core group of about half a dozen retail outlets joining Countdown.
