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


AMP Diversified Property Trust and Stockland

New Zealand outcomes of AMP Diversified Property Trust and Stockland announcements to ASX this morning

The information below is provided as a footnote to the announcements made to the ASX this morning on the proposed unconditional offer by Stockland for AMP Diversified Property Trust (ADP):

Since late last year, ADP has owned a 50 percent interest in three New Zealand retail properties ­ Botany Town Centre, Manukau Supa Centa and Lynnmall Shopping Centre. The other 50 percent of the three properties is held by New Zealand¹s AMP Property Portfolio, one of New Zealand¹s largest property investors.

It is proposed that Stockland will enter into a joint venture agreement with the AMP Property Portfolio to jointly own and manage these properties.

The AMP Property Portfolio is an unlisted, wholesale fund with a diversified portfolio of 24 properties valued at more than $482 million. AMP Property Portfolio¹s 50 percent share of the three retail properties makes up about $188 million of that total.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>