{"id":596742,"date":"2026-09-11T04:12:14","date_gmt":"2026-09-11T04:12:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/596742\/"},"modified":"2026-09-11T04:12:14","modified_gmt":"2026-09-11T04:12:14","slug":"glasson-family-buys-49-of-westfield-albany-from-singaporeans-for-308m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/596742\/","title":{"rendered":"Glasson family buys 49% of Westfield Albany from Singaporeans for $308m"},"content":{"rendered":"

\u201cThis landmark deal represents New Zealand\u2019s most significant single asset retail transaction on record. <\/p>\n

\u201cAnchored 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,\u201d Kirke said.<\/p>\n

He brokered the deal with Lachlan MacGillivray. <\/p>\n

Scentre will remain manager of the centre as well as keeping its 51% stake.<\/p>\n

This sale follows the $146m purchase by a syndicate led by Australian businessman Garry Carter for Glenfield Mall<\/a>.<\/p>\n

The Glasson family are known for founding retailer Glassons in 1918, starting as a mail-order supplier under Charles Glasson.<\/p>\n

\"TheThe Westfield Mall at Albany on Auckland’s North Shore.<\/p>\n

Glassons and menswear retailer Hallensteins merged in 1985 under the NZX-listed Hallenstein Glasson<\/a> Holdings. <\/p>\n

However, it was said to be the Glasson family which bought the GIC stake.<\/p>\n

Christchurch-based Tim Glasson owns 17.95% of the listed Hallenstein Glasson, according to the 2025 annual report. <\/p>\n

The company has a market capitalisation of $722m.<\/p>\n

Glassons says it is a leading multinational womenswear fashion brand headquartered in Sydney and Auckland.<\/p>\n

It is now in its fifth generation.<\/p>\n

It has 38 stores in Australia, 35 stores here and is one of New Zealand\u2019s largest online fashion stores.<\/p>\n

Glassons also has an increasing global customer base with a localised United States-facing website. <\/p>\n

Anne Gibson<\/a> has been the Herald\u2019s property editor for 26 years, written books and covered property extensively here and overseas.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThis landmark deal represents New Zealand\u2019s most significant single asset retail transaction on record. \u201cAnchored by Farmers, Kmart,…\n","protected":false},"author":2,"featured_media":596743,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[294156,294154,85040,41009,16391,51,138,3391,1550,2109,2082,71,13313,39423,19136,294155,1132,111,139,69,1118,10142,644,1133,1243,32520,58218,56778,2963],"class_list":["post-596742","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-294156","tag-308m","tag-85040","tag-albany","tag-asset","tag-auckland","tag-business","tag-buys","tag-centre","tag-family","tag-for","tag-from","tag-giant","tag-glasson","tag-largest","tag-lowprofile","tag-million","tag-new-zealand","tag-newzealand","tag-nz","tag-of","tag-paid","tag-retail","tag-sale","tag-shopping","tag-singaporeans","tag-single","tag-westfield","tag-zealands"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/596742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=596742"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/596742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/596743"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=596742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=596742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=596742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}