|
Monday 21st January 2013 |
Text too small? |
DNZ Property Fund has increased the occupancy rate in its portfolio of 47 buildings to 99.2 percent.
The owner of one of New Zealand's largest portfolios of investment property said 37 transactions during the three months ended December had greatly reduced its lease expiry risk going forward.
The occupancy rate of 99.2 percent as at December 31, 2012 was up from 98.7 percent as March 31, 2012.
"The 37 transactions completed during this quarter is a continuation of the momentum achieved during the first two quarters of the current financial year," chief executive Paul Duffy said.
The transactions included 28 rent reviews that produced total annual rental income of $6.5 million, four lease renewals and five new lettings.
The fund had 47 properties as at December 31, 2012, compared to 51 properties as at March 31.
Its top ten tenants include Bunnings, Fletcher Building, Progressive Enterprises, Foodstuffs, the New Zealand government as well as banks and energy companies.
BusinessDesk.co.nz
No comments yet
DNZ appoints Auckland Airport property GM Peter Alexander as new chief
DNZ Property sells $60M of shares to institutions at 1.8 percent discount
DNZ annual earnings fall 14 percent, signals $80M capital raising for new acquisitions
DNZ boss Duffy cashes in at share price peak with $1.65M sale
DNZ Property lifts first half profit on stable rents, falling expenses
DNZ lifts contracted rentals slightly, extends lease term
DNZ boosts annual earnings 27%, flags dividend rise in 2013
DNZ portfolio's value steady, occupancy & lease terms rise
DNZ sells in Wellington, buys in Auckland
DNZ extends average lease term
