DNZ
13/12/2013 10:06
GENERAL
REL: 1006 HRS DNZ Property Fund Limited
GENERAL: DNZ: DNZ Completes New Hydraulink Facility at Penrose, Auckland
DNZ Property Fund Limited ("DNZ") is pleased to announce the new Hydraulink
Fluid Connectors Limited 2,890m2 warehouse and office facility at O'Rorke
Road in Penrose, Auckland, has been completed. The 12 year lease with
Hydraulink has two yearly rent reviews to market.
Peter Alexander, Chief Executive Officer of DNZ, said "The completion of this
new design build facility for Hydraulink adds another quality building and
tenant to DNZ's portfolio. Following the recent completion of the
neighbouring 1,400m2 AA Insurance facility, there is just 1.0 hectare of land
available for development on this 5.2 hectare site owned by DNZ."
END
For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 - Email: [email protected]
Peter Alexander, Chief Executive Officer, DNZ Property Fund Limited
DDI: 09 913 1154 - Mobile: 0275 443 678 - 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 $770.6 million (as at 30 September 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 $117.4
million (as at 30 September 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.
End CA:00245140 For:DNZ Type:GENERAL Time:2013-12-13 10:06:42
