Private Land and Property Fund (NZX: PLP) Property Valuation Review

The Manager has undertaken a periodic review of the properties in the Private Land and property Portfolio, the wholesale fund into which the PLP invests.

Following that review, the net valuation adjustment reflected in the unit price has been increased by $922,000, which represents a change of 1.44% to the net asset value of the PLP.

The primary driver of the change is in respect of the carrying value of the kiwifruit orchard in Northland, which was purchased by the Fund in September 2019. As the kiwifruit orchard was, at the time of purchase, recently planted/ grafted, the Manager is recognising the increase in the value of the orchard as the plants approach maturity.

The Manager has also reviewed the expected yield and long-term grape prices of the vineyards owned in Awatere and has adjusted its estimates accordingly.

This adjustment will be reflected in the unit price for 29 March 2021 and this price will be published on 31 March 2021.

Please see the link below for details:

PLP - Property Valuation Review

Source: Private Land and Property Fund

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