Hawke's Bay's first purpose-built shopping mall has a new owner after being sold to a private family trust.
Ocean Boulevard, a complex of 20 tenancies between Emerson and Dickens streets and which opened as Broadlands Mall in 1976, has been sold by NPT Ltd for $4.521 million.
The unconditional sale was announced in a statement from the company, formerly the National Property Trust.
The identity of the purchasers has not been revealed, pending settlement on November 21.
They are at least the fifth owners, the name having been changed in the late 1980s after a sale in 1987 for $1.9 million.