The sale of retail outlets at Fraser Cove is part of an estimated $75 million sale that is being described as one of the biggest sell-down of retail properties ever held in New Zealand.
Twelve retail outlets at Fraser Cove are part of a portfolio of retail properties up for sale, which includes another 11 outlets at West Gate Shopping Centre in West Auckland.

Both shopping centres are owned by companies associated with the New Zealand Retail Property Group Management Limited.
The organisation's founder and chairman Mark Gunton says the companies associated with NZRPG elected to sell the retail sites within the Westgate and Fraser Cove portfolio as an alternative to debt raising.
'We see this sales process as delivering a revised capital structure to this portion of the portfolio through the direct involvement of external property owners.”
'At a property management level, it will remain ‘business-as-usual' as we will continue to strive to grow these assets and deliver on their potential.”
Bayleys Real Estate executive director John Bayley says the opportunity to directly own retail property within an institutional grade retail centre under management was unprecedented in New Zealand.
'Participation in real estate holdings of this quality is usually only available indirectly through investment in listed property trusts.”
Fraser Cove was completed in 2002 by companies associated with New Zealand Retail Property Group. The total area on opening date was approximately 19,000 square metres.
The centre was extended by an additional 2200 square metres in 2004 when a two level building was added – with ground floor retail space and Contours Gym on the first floor.