Brookfield actually got Overseas Investment Office clearance for a $250m deal, but Urrea said $200m was the final sale price.
CBRE listed the Rydges’ sale as the third-largest deal.
The fourth-biggest was Woolworths’ sale of five supermarkets to Australia’s Garnaut Private Wealth for $98.2m. Those stores are in Balclutha, Wainuiomata, Richmond, Whangārei and Gisborne.
The fifth-biggest was the sale of 429 and 465 Frankton Ladies Mile Highway outside Queenstown to the Clarke Group for $92m.
The sixth-largest was the sale of Queenstown’s Sofitel at 8 Duke St to Brookfield for below $100m.
Seventh largest was the $87.5m sale of QT Auckland Hotel in the Viaduct by NZ Hotel Holdings to ASX-listed entertainment, hospitality and leisure company EVT.
QT Auckland is a 150-room hotel with 20 suites, designed and operated by EVT since opening in 2020, EVT said in an announcement to the ASX last December.
It has a rooftop bar and an award-winning restaurant, Esther. The property was Bayleys real estate’s headquarters before it was converted to a hotel.
Eighth largest was the $70m sale of a campus at 558 Wairakei Rd and 245 Woolridge Rd, Christchurch by a syndicate formed by law firm Glaister Keegan (formerly Glaister Ennor) to Wellington-headquartered Willis Bond.
The ninth largest was Australian business Lend Lease’s $64.8m sale of Christchurch’s Dress Smart on Main South Rd to Oyster Property Group and London-based William Pears Group.
Tenth largest was Centuria’s sale of Christchurch’s Castle Rock Business Park to Australia’s Fife Capital.
Fletcher Building’s sale of 37-41 Felix St, Penrose, to NZX-listed Goodman Property for $53.5m was the largest industrial sale. That Auckland site had Winstone Wallboards’ GIB manufacturing plant.
The mill has now been shifted to Tauranga in a new $400m factory, so Penrose was no longer needed.
Overall, CBRE said 19% fewer properties were sold in the first half of this year compared to the first half of 2025, indicating higher average transaction sizes lately.
The office sector regained the top position for transaction volume for the first time since 2023.
That was driven by seven sales, including two transactions exceeding $200m: PwC and ASB North Wharf. Both those sales involved joint ventures between a local listed company and overseas investors.
Foreign buyers remained active. They bought $1.04b of properties in the latest six months. That is the largest half-year total since the first half of 2018, CBRE noted.
Moricz said the $146m Glenfield mall sale had only occurred in August, so was outside the first half of this year.
“Our list doesn’t cover Q3 [quarter three] but if it did, Glenfield would be the third largest,” Moricz said.
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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