Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Trust Tops Forecast

Colonial First State Property General Manager Lloyd Cundy announced today a net operating surplus before devaluation for the Trust of $14.551m for the year ended 31 March 2001, up $1.2m on the Prospectus forecast.

Unitholders will receive a final distribution of 2.67 cents per unit made up of 2.32 cents cash with a 0.35 cent imputation credit. Total distributions for the year to 31 March 2001 are equivalent to a return of 10.69 cents per unit on a $1 issue price.

Mr Cundy said the Trust was continuing to benefit from its investment strategy of focusing on superior fringe CBD office buildings in Auckland. The addition of Panasonic House in Wellington in July 2000 also boosted the Trust’s income. The Trust has maintained its virtually fully tenanted status.

Mr Cundy said on a like for like comparison, the portfolio valuation remained static during the year. The opening gross value was $196,260,000 and closing at $207,640,000. After allowing for disposal costs and capital expenditure during the year, the result was a valuation write-down of 0.78%, equating to $1,611,000.

Colonial First State Property Trust owns ten buildings in Auckland, three in Wellington and two in Christchurch. The portfolio is a diversified mix of commercial office, industrial and retail properties.

ENDS



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Environment Aotearoa 2019: Report Warns Environment In Serious Trouble

The report says the way New Zealanders live and make a living is having a serious impact on the environment, and the benefits New Zealanders get from being in nature, though not measured or quantified, could be lost. More>>

ALSO:

Provincial Growth Fund: Backing Growth In Gore

“Today’s announcements are a $1.6 million investment towards the Maruawai precinct project, which involves the redevelopment of the Hokonui Moonshine Museum and creation of the Maruawai Heritage Centre...” More>>

ALSO:

Inflation: Cigarette Price Rise Offsets Cheaper Petrol

The consumers price index (CPI) rose 0.1 percent in the March 2019 quarter, due to higher prices for cigarettes, Stats NZ said today... In the year to March 2019, the inflation rate was 1.5 percent, down from 1.9 percent in the December 2018 year. More>>

ALSO:

Government Suppliers: MBIE Reinstates Fuji Xerox As A

The government has reinstated Fuji Xerox as a supplier despite an ongoing Serious Fraud Office investigation into accounting irregularities that led to losses of more than $300 million. More>>

ALSO: