Kiwi Property

What Kiwi Property does

Kiwi Property Group Limited is a New Zealand-listed Real Estate Investment Trust (REIT) that owns, develops, leases and manages a diversified portfolio of retail, office, mixed-use and residential properties valued at approximately NZ$3 billion. Founded in 1992 (as Kiwi Income Property Trust) and listed on the NZX in December 1993, the company is headquartered at Vero Centre, Level 7, 48 Shortland Street, Auckland, and operates across New Zealand's major metropolitan markets including Auckland, Hamilton, Wellington and Christchurch. Its portfolio spans flagship mixed-use precincts (Sylvia Park), regional shopping centres (The Base, LynnMall, Centre Place North), premium office buildings (Vero Centre, Aurora Centre, ANZ Raranga, Geneva House), the Resido build-to-rent community, and a major 53-hectare metropolitan centre development at Drury. Kiwi Property also manages properties worth over NZ$400 million on behalf of third-party owners including Silverfin Capital and Mackersy Property.

The company's revenue model rests on three pillars: long-term property rental income from its directly owned retail, office and residential assets (recurring rental stream), third-party property management fees (managed services), and short-term activation, advertising and leasing services to retail partners. Portfolio occupancy stood at 99% in FY26 with portfolio net operating income of NZ$185.6 million; Sylvia Park alone generates 16+ million customer visits and over NZ$850 million in retailer sales annually. Sustainability credentials are central to its positioning — Geneva House holds New Zealand's first 6-Star Green Star Design & As Built rating, Resido the first 9-star Homestar Built rating at scale, and core offices target minimum 4.5-star NABERSNZ ratings.

Kiwi Property's go-to-market is direct: dedicated in-house leasing teams engage enterprise retail, office and government tenants through property-specific enquiry channels, while a separate short-term leasing and activation business serves mid-market pop-up, kiosk and advertising customers. The company maintains joint ventures with Tainui Group Holdings (Centre Place North and The Base, since 1994 and 2016 respectively) and a channel/reseller relationship with the Mackersy LFR Fund for large-format retail capital recycling. The corporate structure has no parent company; ownership is dispersed across approximately 1.65 billion NZX-listed securities, with a market capitalization of approximately NZ$1.56 billion as of May 2026.

Name

Kiwi Property

Legal name

Kiwi Property Group Limited

Website

https://kiwiproperty.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Lessors of Real Estate (5311), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Property Managers (531312), Residential Property Managers (531311)

SIC

Real Estate Investment Trusts (6798), Real Estate Agents & Managers (For Others) (6531), Investors, Nec (6799)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

akta.pro secondary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Commercial real estate
• Retail property management
• Mixed-use development
• Property leasing services
• REIT investment

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Property Rental Income: Kiwi Property generates the majority of its revenue through rental income from its portfolio of retail, office, and residential properties. This includes long-term leases with retail tenants, office tenants, and residential tenants across their mixed-use precincts.
2. Property Management Fees: Kiwi Property manages properties worth over $400 million on behalf of third parties, generating non-rental fee income. This includes managing Centre Place South for Silverfin Capital and Northlands for Mackersy Property.
3. Advertising and Activation Services: Kiwi Property offers advertising and promotional opportunities within their retail centres, including digital screens, pop-up shops, kiosks, and experiential marketing activations, generating additional revenue from short-term leasing arrangements.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Kiwi Property is a New Zealand-listed real estate investment trust that owns, develops, and manages a diversified portfolio of mixed-use precincts, retail shopping centres, premium office buildings, and a build-to-rent residential community. The company generates revenue primarily through long-term rental income from retail, office, and residential tenants, supplemented by third-party property management fees and in-centre activation and advertising services. It also holds a strategic development pipeline, most notably the 53-hectare Drury metropolitan centre project in south Auckland.

Product overview

Kiwi Property is a New Zealand-based real estate investment and property management company operating a diversified portfolio of mixed-use, retail and office properties. The portfolio includes flagship retail destinations (Sylvia Park shopping centre, The Base, LynnMall, Centre Place North/South, Northlands), premium office buildings (Vero Centre, Aurora Centre, ANZ Raranga, Geneva House), and residential developments (Resido build-to-rent). The company also manages properties for third parties and offers activation and advertising services to retail partners. Kiwi Property has a major development project at Drury creating a new metropolitan centre.

Differentiator

Problem solved

Functional benefit

Brands

• Resido: Build-to-rent residential community offering 295 quality apartments with amenities including gym, rooftop BBQ area, co-working facilities, and concierge service. Located at Sylvia Park, opened in 2024.

Products and services

• Sylvia Park shopping centre New Zealand's largest shopping destination featuring over 220 retailers, 4,091 free carparks, and excellent public transport access, generating over $850 million in annual sales.
• Sylvia Park Lifestyle Large-format retail centre adjacent to Auckland's southern motorway with 15 tenants offering furniture, homeware, sporting goods and whiteware.
• ANZ Raranga 10-level office tower at Sylvia Park with 5-star Green Star and 5.5 NABERSNZ sustainability ratings, anchored by ANZ and IAG.
• Geneva House Six-storey medical and office building at Sylvia Park, New Zealand's first 6-Star Green Star Design & As Built rated building with flexible configurations for medical or office tenants.
• Resido Build-to-rent residential community at Sylvia Park featuring 295 quality apartments in three buildings with gym, rooftop BBQ, co-working facilities, and concierge service.
• Drury development Auckland's newest metropolitan centre development spanning 53 hectares, creating a vibrant and sustainable town with high-speed transport links.
• The Base Waikato's leading retail destination and New Zealand's largest shopping centre outside Auckland, featuring Te Awa indoor centre and large format retail with over 150 stores and 3,329 carparks.
• LynnMall New Zealand's longest established indoor shopping centre in Auckland's western suburbs since 1963, featuring award-winning Brickworks dining precinct and Reading Cinemas.
• Centre Place North Jointly owned retail destination in Hamilton's CBD featuring specialty stores, major retailers, food court, and two cinema complexes (Lido and METRO by HOYTS).
• Vero Centre Kiwi Property's flagship office asset and one of New Zealand's premier commercial buildings in Auckland's financial district, featuring 32 office levels with 4.5-star NABERSNZ rating.
• Aurora Centre Premium A-grade office building in Wellington leased by the Ministry of Social Development until 2034, featuring 5.5-star NABERSNZ rating and seismic strengthening.
• Third-party property management (Centre Place South and Northlands) Professional retail property management services for third-party owners, currently managing assets worth over $400 million and 387 tenants, including Centre Place South (for Silverfin Capital) and Northlands (for Mackersy Property).
• Activation and advertising services Retail leasing, advertising and promotional solutions including pop-up shops, kiosks, digital screens, banners, sponsorships and customised campaigns across Kiwi Property's retail destinations.

Quantifiable outcome

• 99% portfolio occupancy across $3 billion property portfolio
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• Mackersy LFR FundminorChannel Partner/ Reseller/ Distributor · 10 November 2025Kiwi Property agreed to sell a large-format retail property next to Sylvia Park to Mackersy LFR Fund for $90 million, with Kiwi Property retaining up to 75% of fund units and receiving $52.9-$65.3 million in cash.
• Mackersy PropertycoreChannel Partner/ Reseller/ Distributor · 1 January 2022Kiwi Property sold its ownership stake in Northlands shopping centre to Mackersy Property in 2022 and now manages the asset on their behalf. Kiwi Property also retains up to 75% of fund units in the Mackersy LFR Fund following property sales, with plans to reach 50% stake conversion.
• Tainui Group HoldingscoreStrategic or Co-development Partner · 1 January 1994Joint venture partnership for Centre Place North (50% ownership) and The Base with Tainui Group Holdings. Both properties are operated collaboratively, with Tainui Group Holdings holding 50% interest.
• Silverfin CapitalcoreChannel Partner/ Reseller/ DistributorKiwi Property manages Centre Place South on behalf of Silverfin Capital ( TEA Custodians Silverfin Ltd), providing property management services for the Hamilton CBD retail centre.

Scale indicators15 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Precinct Properties: NZ-listed commercial property investor focused on premium Auckland and Wellington office buildings. Highly comparable to the office portion of Kiwi Property's portfolio, sharing tenants, geographies and a similar NABERSNZ/sustainability-driven strategy.
• Property for Industry: NZ-listed industrial and commercial property company. Comparable as a domestic NZ REIT with a similar NZX-listed structure, though industrial rather than retail-tilted; relevant for benchmarking capital allocation discipline in the NZ market.
• Scentre Group: Owner and operator of Westfield-branded shopping centres in Australia and New Zealand. Most directly comparable peer given overlapping retail property focus, listed REIT structure, and presence in the same Australasian geographic footprint.
• Stride Property Group: New Zealand listed property company investing in office and retail properties. Closest NZ peer to Kiwi Property, sharing the same NZX-listed REIT structure, NZ geographic concentration, and overlap in board-level talent (Kiwi director Peter Alexander was formerly Stride CEO).
• Argosy Property: NZ-listed diversified REIT with a portfolio of industrial, office and retail assets. Direct comparable on NZ geography, NZX-listed REIT structure, and mixed commercial property exposure.
• Vicinity Centres: Australian listed retail REIT owning a portfolio of super-regional and regional shopping centres. Direct comparable given the focus on flagship enclosed mall destinations and similar tenant mix to Sylvia Park and The Base.

Broad incumbents

• Stockland: One of Australia's largest diversified property groups spanning retail, office, logistics and residential. Chair Simon Shakesheff is a former Stockland executive, evidencing the close talent and strategic overlap with Kiwi Property's mixed-use model.
• Dexus: Australian listed office-led REIT. Comparable to the office component of Kiwi Property's portfolio (Vero Centre, Aurora Centre, ANZ Raranga) with a similar premium-grade CBD tenant strategy and sustainability leadership.
• GPT Group: Australian listed REIT with a portfolio of retail, office and logistics assets. Comparable as a regionally diversified Australasian REIT operating in adjacent geographies to Kiwi Property with a similar mixed-use strategy.
• Goodman Group: Global industrial property specialist and one of the largest listed property companies in Australasia. Comparable as a major Australasian REIT with an institutional asset management platform; Peter Alexander, Kiwi Property director, previously held senior roles at Goodman.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kiwi-property-group

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kiwi Property