Thursday 20th December 2018 |
Text too small? |
Kiwi Property Group says it has paid $25 million for an industrial property opposite the Sylvia Park train station.
The currently vacant property at 43 Carbine Road in Mt Wellington is on a 22,086 square-metre site with existing warehousing and yard facilities.
Kiwi chief executive Clive Mackenzie says the site has potential linkages to the Sylvia Park shopping centre and is zoned mixed-use under the Auckland Unitary Plan.
“While we have no immediate plans for the site beyond leasing the existing premises to make use of the warehousing and yard facilities on site, this acquisition will provide future mixed-use opportunities at Sylvia Park,” Mackenzie says.
Sylvia Park is New Zealand's largest shopping centre and Kiwi's flagship property. It accounted for almost a third of the firm's $3.04 billion portfolio at March 31.
Kiwi is continuing to develop the centre and surrounding area as a mixed-use development encompassing retail, office and industrial properties – it recently completed an $80 million office tower in the precinct.
The shares last traded at $1.385, and have decreased 1.4 percent so far this year.
(BusinessDesk)
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024