Thursday 25th March 2021
|Text too small?|
Kiwi Property today announced the outcome of its draft property portfolio valuations, delivering an expected fair value gain of $100 million (+3.1%) for the six months ending 31 March 2021. The Company’s mixed-use, office, retail and other properties will be worth $3.3 billion following confirmation of the asset valuations at year-end.
Following the latest valuations, the overall fair value gain on Kiwi Property’s portfolio for the 2021 financial year is approximately $110 million (including the $9.2 million uplift recorded in the six months to 30 September 2020).
Chief Executive Officer, Clive Mackenzie said it was pleasing to see a rebound in the Company’s asset values, following a stabilisation of trading conditions.
“While COVID-19 continues to impact the sector, the outlook is far more positive than it was when valuations were last undertaken in September 2020, especially with the vaccine rollout now underway. Encouragingly, recent transaction evidence suggests investor confidence has returned to the property markets, allowing valuers to remove ‘material valuation uncertainty’ clauses across many of our assets.”
The draft 31 March 2021 property valuations are determined by independent valuers and are subject to external audit. They will be confirmed in the Company’s audited financial statements for the year ended 31 March 2021, scheduled for release on 24 May 2021.
Please see the link below for details:
No comments yet
NZME Limited (NZX: NZM) NZ Markets Disciplinary Tribunal Censures
Rua Bioscience Limited (NZX: RUA) Announces CCO with Global Pharma Experience
Cannasouth Limited (NZX: CBD) Supply Activity Added to Cannasouth Commercial Licence
Skellerup Holdings Limited (NZX: SKL) Upgrades FY21 Earnings Guidance
Napier Port Holdings Limited (NZX: NPH) 2021 Earnings Guidance Update
Comvita Limited (NZX: CVT) Full Year Guidance Update
Scott Technology Limited (NZX: SCT) Meat Industry Contract Win
PaySauce Limited (NZX: PYS) Quarterly Market Update
NZ Windfarms Limited (NZX: NWF) Agrees a New VVFPA for Q1 2022 to Q3 2022
Harmoney Corp Limited (NZX: HMY) 3Q21 Trading Update