Kiwi Property gains altitude in annual report

  • News
  • May 21, 2018
Kiwi Property gains altitude in annual report

An ongoing ability to connect with customers on a social level has been hailed as one of the reasons for Kiwi Property’s impressive financial growth for the last year. The report shows a record $1.8 billion in retail sales across the portfolio. 

Profit after tax for the full year ending March 2018 is $120.1 million, while the property portfolio value went up from last year, and now sits at $3.1 billion.

Net profit is down from the year before (by $22.9 million), due to lower revaluation gains on its property portfolio and the absence of fair value gains on interest rate derivatives, says the report.

Kiwi Property, owners of some of our largest centres, has $370 million worth of developments in progress. This includes its office tower, central carpark and Galleria and south carpark projects at Sylvia Park, and the Langdons Quarter foodcourt redevelopment at Northlands.

According to the report, the demand for tenancy within the groups shopping centres far surpass what they can give out. The occupancy rate for the portfolio is at 99.7 percent, with continued demand from both domestic and international retailers.

The report is a positive look into the groups predictions for retail.

“The outlook for New Zealand’s retail sector remains robust,” says the report.

“After more than a decade of competition from online sales, we can now say with confidence that the retail sector has room for both online sales and brick and mortar retail. With the latter’s ability to connect people socially becoming an increasingly important differentiator.”

The report highlights the groups impressive numbers, which includes 964 tenants across its nine retail centres. Its $2.1 billion value and $1.8 billion in retail sales can be attributed to its upwards of 50 million visitors a year.

Retail accounts for 68 percent of the groups portfolio, with retail income up 5.8 percent to the previous year.

The report says that for the next financial year, progress will continue across Sylvia Park’s up and coming Galleria, along with other upgrades on the site. The group also plans to open its Langdons Quarter at Northlands in November this year and settle the sale of North City which it sold for $100 million.

Retail wise, the group says it will, “use the customer data we are collecting to further connect with our customers.” While also continuing the leasing programme for the Galleria development at Sylvia Park.

See the full financial report here. 


Kiwi Property this year have also realised its sustainability report, which compares current savings to its base year in 2012. Highlights include energy consumption reduced by 4,480,000 kWh, 310 tonnes of waste consumption diverted from landfill and water consumption reduced by 23.3 million litres.

Kiwi Property also has plans to roll out New Zealand’s largest combined solar installations across at least four of its centres with an agreement with Meridian Energy.

In the past six years Kiwi Property has managed to reduce its carbon footprint by 40 percent.

See the full sustainability report here.

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.


Thank you, next: Dunedin welcomes Ocho chocolate shortly after Cadbury's exit

  • News
  • November 16, 2018
Thank you, next: Dunedin welcomes Ocho chocolate shortly after Cadbury's exit

Less than a year after Cadbury announced its decision to move production out of Dunedin, the area has welcomed in its newest chocolate producing resident – Ocho.

Read more
Sponsored Content

International shipping - Here’s how to jump the queue

GoSweetSpot’s platform takes the guesswork out of freight services, whether your needs are local, international or both.


Pip Elliott to leave MPA

  • Who's Where
  • November 15, 2018
  • Caitlin Salter
Pip Elliott to leave MPA

Magazine Publishers Association executive director Pip Elliot has announced she will leave the position in December. Elliot joined the MPA in February 2015 and has been responsible for the day-to-day management of the industry body ever since.

Read more

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
Sponsored content

SongHubs: Supporting the next generation

SongHubs is a collaborative song writing program with the goal of supporting New Zealand music creators and encouraging collaboration. The program is supported by NZ ...


The Warehouse Group moves to include Alipay and UnionPay

  • News
  • November 15, 2018
The Warehouse Group moves to include Alipay and UnionPay

New Zealand's largest retailer, The Warehouse, is accepting a couple of alternative payment methods favoured by Asian customers, including UnionPay and Alipay.

Read more

300 bottles of beer on the wall: Grey Lynn gets new craft beer store

  • News
  • November 15, 2018
300 bottles of beer on the wall: Grey Lynn gets new craft beer store

Craft beer enthusiasts have been given a treat in the shape of Grey Lynn’s newest tenant, the Bottle Stop. One of Auckland’s most extensive range of craft beer under one roof.

Read more
Next page
Results for
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

The Register

Content marketing/advertising? Email or call 022 639 3004

View Media Kit