By Chris Hutching
Friday 22nd August 2003
|Text too small?|
Between 80-90% of the leases contain clauses providing for annual rental increases of 3-5% to lock in future earnings and distributions to shareholders, he said.
Mr McNaughton spoke about other initiatives across the KIP portfolio that would maximise rentals and efficiencies.
The company is seeking strategic partners for its next major development 24ha at Auckland's Sylvia Park estimated to require investment of about $500 million (KIP's total assets are $911 million with borrowings of $200 million).
"We're being very cautious about this because we're mindful it's probably one of the largest blocks available in Australasia in such close proximity to a major city. It's beyond the financial risk of this trust."
No comments yet
Tourist numbers perk up in August as Aussies more than offset declining Asian demand
Peters to unions: strikes not helpful; no word on Fair Pay Agreements
Oil and gas critical to global emissions reduction effort - BP
Ebos pays A$34m for medical devices businesses
House price inflation ticks higher as sales volumes recover
Fletcher in $31 mln dispute with ministry over Greymouth hospital
NZ dollar eases as markets fret about US-China trade talks
15th October 2019 Morning Report
CTU pressures govt for Fair Pay Agreements
NZ Rugby not ready for a seat at Sky board table