The Base

The Base is a regional shopping centre in Te Rapa, Hamilton, New Zealand. The complex combines the original outdoor retail development with Te Awa, a later enclosed shopping mall, and serves as one of the Waikato region's principal retail and commercial destinations. Its name reflects the site's twentieth-century military history: the land was used for the Te Rapa Air Force Base, which closed in 1992. The 30-hectare site has a significant Waikato-Tainui history. The land traditionally belonged to Waikato-Tainui, but was taken by the Crown before the Second World War under the Public Works Act for defence purposes. It returned to the tribe in 1995 through the Waikato-Tainui raupatu settlement. The property was placed under Pōtatau Te Wherowhero title, a form of title intended to prevent the land from being sold or alienated. Tainui Group Holdings announced the retail project in 2002. The proposed development was planned to grow to more than 60,000 square metres of retail and commercial space, with an estimated initial investment of $50 million. The development required changes to the Hamilton City District Plan and faced appeals from objectors in both the Environment Court and the High Court. After those challenges were unsuccessful, construction began in August 2004. The Warehouse Group became the anchor tenant for the first stage in 2002. Its planned 16,000-square-metre store was among the company's largest and used a new format that was subsequently adopted more broadly across its New Zealand network. The Warehouse Group later entered a joint venture with Tainui to operate the centre. In 2007, Tainui Group Holdings acquired The Warehouse Group's half of that operating venture for $37.4 million, making the Tainui organisation the sole owner of the centre at that stage. The centre's design incorporates three prominent pou, or carved posts, that communicate different layers of the site's identity. One represents traditional guardianship, another acknowledges the Royal New Zealand Air Force's presence, and the third expresses the contemporary and modernising character of Waikato-Tainui. The Base's design received a silver medal at the 2012 Asia Pacific Shopping Centre Awards in China. Ownership later broadened. In 2016, NZX-listed Kiwi Property Group invested $192.5 million for a 50 percent interest. The transaction implied a total property valuation of $385 million at the time. The Base therefore combines retail operations with a long-term property partnership involving Waikato-Tainui's asset-holding organisation and Kiwi Property. Its principal public role remains that of a large shopping and service destination for Hamilton and the wider Waikato area.

The Base occupies approximately 30 hectares at Te Rapa in Hamilton. The land was traditionally associated with Waikato-Tainui, but was taken by the Crown before the Second World War under the Public Works Act for defence purposes. It subsequently became the Te Rapa Air Force Base. The military facility closed in 1992, and the land returned to Waikato-Tainui in 1995 as part of the Waikato-Tainui raupatu settlement. It was placed under Pōtatau Te Wherowhero title, which protects it from sale or alienation. In 2002, Tainui Group Holdings announced plans for a substantial retail and commercial development on the former base. The proposal was expected to require an initial investment of $50 million and ultimately provide more than 60,000 square metres of space. The Warehouse Group was recruited as the anchor tenant for the first stage, including a 16,000-square-metre store based on a new format for the retailer. The scheme required amendments to the Hamilton City District Plan. Objections and appeals delayed the project for about a year, but the challenges brought before the Environment Court and High Court were unsuccessful. Construction eventually started in August 2004. The completed centre developed into a mixed-format complex, with the original outdoor strip-mall component later complemented by the enclosed Te Awa mall. The Warehouse Group subsequently participated in a joint venture with Tainui connected with the centre's operation. In 2007, Tainui Group Holdings paid $37.4 million to acquire the group's 50 percent interest in that venture. This left the Tainui organisation as the sole owner at that point. Cultural interpretation is built into the centre's physical design. Three major pou represent traditional guardianship, the site's Royal New Zealand Air Force period, and the contemporary development of the tribe. In 2012, the design received a silver medal at the Asia Pacific Shopping Centre Awards in China. The ownership structure changed again in 2016, when Kiwi Property Group acquired a 50 percent interest for $192.5 million. The transaction valued the property at $385 million. The Base is consequently both a regional retail destination and a major Waikato-Tainui property asset, operated within a partnership involving Tainui Group Holdings and Kiwi Property.

• 2016

  Kiwi Property takes a half interest

  [1]The Base (shopping centre)en.wikipedia.org

  Kiwi Property Group acquired 50 percent of the property for $192.5 million, implying a $385 million valuation.

• 2012

  Design receives international award

  [1]The Base (shopping centre)en.wikipedia.org

  The Base won a silver medal at the Asia Pacific Shopping Centre Awards in China.

• 2007

  Tainui buys out The Warehouse Group

  [1]The Base (shopping centre)en.wikipedia.org

  Tainui Group Holdings acquired The Warehouse Group's half of the operating joint venture.

• 2004

  Construction starts

  [1]The Base (shopping centre)en.wikipedia.org

  Work began in August after planning-related appeals were rejected.

• 2002

  Retail development announced

  [1]The Base (shopping centre)en.wikipedia.org

  Tainui Group Holdings announced a major retail project and The Warehouse Group became the first-stage anchor tenant.

• 1995

  Land returns to Waikato-Tainui

  [1]The Base (shopping centre)en.wikipedia.org

  The site was returned to Waikato-Tainui through the raupatu settlement and placed under Pōtatau Te Wherowhero title.

• 1992

  Te Rapa Air Force Base closes

  [1]The Base (shopping centre)en.wikipedia.org

  The former military base on the site ceased operations, allowing the land's longer-term redevelopment to be considered.

A large regional shopping and commercial destination that combines open-air and enclosed retail environments with a strong Waikato-Tainui cultural and historical identity.

• Open-air shopping centre

  The Base outdoor retail precinct

  The original part of the development is an outdoor strip-mall-style retail precinct. It forms the open-air component of The Base and accommodates large-format retail, shops, services, food outlets and other commercial uses. Its layout reflects the centre's initial development around major anchor tenancy.

• Enclosed shopping mall

  Te Awa

  Te Awa is the enclosed shopping mall component of The Base. Together with the original outdoor precinct, it creates a mixed-format regional centre serving Hamilton and the wider Waikato market. The enclosed format expands the site's retail and visitor offer beyond the original strip-mall development.

• Large-format retail · 2002

  Anchor retail stores

  Large-format anchor retail is central to The Base's commercial model. The Warehouse Group was the anchor tenant for the first stage and planned a 16,000-square-metre store using a new national format. The centre's broader offer also includes shopping, dining, leisure and services.

• 2016

  Kiwi Property investment and ownership partnershipM&A

  Background

  The Base had previously been wholly owned by Tainui Group Holdings.

  Action taken

  Kiwi Property Group acquired a 50 percent interest in the property.

  Aftermath

  The transaction established shared ownership between Kiwi Property and Tainui Group Holdings and implied a total property valuation of $385 million.

  Investment for 50 percent interest. $192.5 million; implied property valuation of $385 million (2016)

  Source

• 2007

  Buyout of The Warehouse Group's joint-venture stakeM&A

  Background

  The Warehouse Group had participated with Tainui in a joint venture associated with the centre.

  Action taken

  Tainui Group Holdings purchased The Warehouse Group's 50 percent stake.

  Aftermath

  Tainui Group Holdings became the sole owner of the centre at that stage.

  Purchase price. $37.4 million (2007)

  Source

• 2002

  Development of a Waikato-Tainui regional retail centreStrategy

  Background

  Tainui Group Holdings sought to redevelop the former Te Rapa Air Force Base site as a large retail and commercial destination.

  Action taken

  The organisation announced a project intended to grow beyond 60,000 square metres and secured The Warehouse Group as the first-stage anchor tenant.

  Aftermath

  The proposal proceeded after district-plan changes and unsuccessful appeals, with construction starting in 2004.

  Announced initial development investment. $50 million announced investment (2002)

  Source

1. 1The Base (shopping centre)en.wikipedia.org
2. 2The Base official websitethe-base.co.nz