DNZ
07/04/2014 17:07
GENERAL
REL: 1707 HRS DNZ Property Fund Limited
GENERAL: DNZ: DNZ Secures DHL at Airpark Drive for a Further Five Years
DNZ Property Fund Limited ("DNZ") is pleased to announce that agreement has
been reached with DHL for a lease extension of five years from 1 September
2014 for the facility at 30 Airpark Drive, Mangere, Auckland.
Peter Alexander, DNZ Chief Executive Officer, said "As part of this
transaction the facility will be upgraded and extended by 2,000m2, with a
negotiated rental that reflects the additional area and improvements.
Following completion of the works, DHL will occupy a modernised all-weather
facility to fit their occupational requirements going forward."
END
For Further Information Please Contact:
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 31 December 2013, DNZ Property Fund
owned 47 properties with 297 tenants, a weighted average lease term of 5.5
years and an occupancy rate of 99.4% over a net lettable area of 369,407m2.
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:00249214 For:DNZ Type:GENERAL Time:2014-04-07 17:07:15
