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
Broader review powers eyed for Climate Change Commission
MARKET CLOSE: NZ shares edge lower as global ructions weigh; Tourism Holdings sinks
NZ dollar rises as markets bet on US interest rate cut
Fonterra seeks further changes to dairy act
Tilt, Oji say transmission changes may discourage new generation
Tourism Holdings shares fall to 6-week low as US margins shrink
Venture capitalists split on govt picking winners
21st October 2019 Morning Report
Kiwi dollar steady as markets await Brexit developments
Domestic AGMs, multi-national earnings to provide economic insights