“This landmark deal represents New Zealand’s most significant single asset retail transaction on record.
“Anchored by Farmers, Kmart, New World as well as Event Cinemas and supported by 10 mini-majors and over 100 speciality stores, the centre boasts outstanding performance, reporting a total moving annual turnover of $460.8m and attracting approximately 8.4 million customer visits annually in April 2026,” Kirke said.
He brokered the deal with Lachlan MacGillivray.
Scentre will remain manager of the centre as well as keeping its 51% stake.
This sale follows the $146m purchase by a syndicate led by Australian businessman Garry Carter for Glenfield Mall.
The Glasson family are known for founding retailer Glassons in 1918, starting as a mail-order supplier under Charles Glasson.
The Westfield Mall at Albany on Auckland’s North Shore.
Glassons and menswear retailer Hallensteins merged in 1985 under the NZX-listed Hallenstein Glasson Holdings.
However, it was said to be the Glasson family which bought the GIC stake.
Christchurch-based Tim Glasson owns 17.95% of the listed Hallenstein Glasson, according to the 2025 annual report.
The company has a market capitalisation of $722m.
Glassons says it is a leading multinational womenswear fashion brand headquartered in Sydney and Auckland.
It is now in its fifth generation.
It has 38 stores in Australia, 35 stores here and is one of New Zealand’s largest online fashion stores.
Glassons also has an increasing global customer base with a localised United States-facing website.
Anne Gibson has been the Herald’s property editor for 26 years, written books and covered property extensively here and overseas.
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