DNZ
01/11/2013 15:59
ASSET
REL: 1559 HRS DNZ Property Fund Limited
ASSET: DNZ: DNZ Land Settlement Completed
DNZ Property Fund Limited ("DNZ") has settled a 50% share on a vacant 220m2
portion of land fronting Johnsonville Road, Wellington, for a purchase price
of $220,000. The total purchase price was $440,000 and was purchased with
DNZ's co-owner of the shopping centre, Diversified NZ Property Fund Limited.
Patrick O'Reilly, DNZ Acting Chief Executive, said "This is a strategic piece
of land for the future redevelopment plans of Johnsonville Shopping Centre."
END
For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 - Email: [email protected]
Patrick O'Reilly, Acting Chief Executive, DNZ Property Fund Limited
DDI: 09 913 1065 - Mobile: 021 415 645 - Email:
[email protected]
Jennifer Whooley, Chief Financial Officer, DNZ Property Fund Limited
DDI: 09 913 1150 - Mobile: 021 536 406 - Email:
[email protected]
DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand's largest diversified
investment property portfolios with $760.2 million (as at 31 July 2013*) of
commercial office, retail and industrial properties located in the main urban
areas throughout New Zealand. As at 30 September 2013, DNZ Property Fund
owned 47 properties with 293 tenants, a weighted average lease term of 5.6
years and an occupancy rate of 99.4% over a net lettable area of 365,912m2.
DNZ Property Fund Limited is a Portfolio Investment Entity in which investors
hold shares and is managed by its own internal management team. DNZ also
holds management rights to Diversified NZ Property Fund Limited, a $111
million (as at 31 March 2013) commercial property portfolio.
DNZ's top 10 tenants as at 30 September 2013: Bunnings, Progressive
Enterprises (Countdown), NZ Government, Foodstuffs (PAK'nSAVE & New World),
ASB, Fletcher Building, The Warehouse, Westpac, Meridian Energy and Lion.
These 10 tenants represent 52% of the Company's total contract rental.
* 31 March 2013 valuations plus the purchase price of the Silverdale Centre
and Westgate Zone 5 Land less assets sold post 31 March 2013 balance date.
End CA:00243249 For:DNZ Type:ASSET Time:2013-11-01 15:59:13
