Global Yellow Pages has cancelled an agreement to buy a shopping centre in New Zealand.

The Singapore investment company had previously committed to pay NZ$45.6 (S$44.8 million) million for the Hunters Plaza Shopping Centre, located in the southern suburbs of Auckland.

“The purchaser carried out a due diligence investigation,” Global Yellow Pages said in a statement.

“Further to such investigation, the purchaser identified certain key issues, and subsequent negotiations between the purchaser and the vendor on the terms and conditions of the agreement were not successful.”

The centre would have been the second mall acquired by Global Yellow Pages in New Zealand following the purchase of the Pakuranga Plaza in May last year.