The country's largest listed commercial and retail landlord may build the biggest office development in years.

Kiwi Income Property Trust is considering raising $100 million to $150m, primarily to reduce debt.

Failed major developments in New Zealand are piling up, like the Soho Square project in Ponsonby which is now mocked as 'Sohole'.

Market conditions are constraining prospects for rental growth in Kiwi Income Property Trust's (KIPT) retail portfolio.