Coast Plaza mall in Whangaparāoa has been sold, with the new owners taking over last month.
The mall is now in the hands of Achilles Heritage – a limited partnership between Donald Reid, Jimmy Wei and Michael Yuan.
Reid is also co-owner of commercial property management company Murchison Group, which now manages Coast Plaza.
He says he and his partners saw the purchase as an opportunity in a rapidly growing area.
“It struck me that it’s ready for its next growth phase and a new lease of life,” Reid says. “The previous owner spent money fixing it up – now our aim is to bring some fun back to the place.”
His first task, he says, is to talk with the tenants and other locals about what is needed to help the place thrive.
“I am not interested in imposing my views about the future,” he says. “I want to establish a good relationship with the tenants and get to know the community, so we can make the Plaza a place everyone wants to go.”
In general he would like to see the mall become more of a retail destination and also bring in more of a focus on medical/health/wellbeing providers.
He also hopes to introduce live music.
Reid says the arrival of Mitre 10, expected to open at Coast Plaza this Easter, will be a good drawcard with spinoffs for the retailers within the mall.