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HomeNEWSValue of Kiwi Property pushed up by retail portfolio

Value of Kiwi Property pushed up by retail portfolio

Kiwi Property’s retail portfolio rose by $114 million or 7 percent in the year to March 31. Sylvia Park set another record valuation, rising 11 percent to $704 million. The company says this was assisted by its securing New Zealand’s first Zara and H&M outlets – the arrival of the international fast fashion giants was greeted with great excitement from consumers last year.

Value of Kiwi Property’s New Zealand shopping centres​

Centre name Value at March 16 in $m Net change in value
Sylvia Park

704.00
 

10.5%
Sylvia Park Lifestyle

69.80

3.1%
LynnMall

269.00

5.6%

Westgate Lifestyle

70.25 1.8%
Centre Place North

65.50

-5.3%

Centre Place South

46.70

-1.2%

The Plaza

211.00

2.4%

North City

109.5

9.5%

Northlands 

243.00  8.8%

Kiwi Property has also announced its general manager commercial portfolio, David Johnson, has resigned. Chief executive Chris Gudgeon says an executive recruitment process is underway to find a replacement for Johnson.

“We thank David for the significant contribution he has made to the business over the last six years and wish him well for the next stage of his career.”

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