Property News

Local and international property news and prices for week ending October 15.

Monday, October 18th 1999, 12:00AM

by Philip Macalister

NZSE listed property companies

Mon Closing Sale

Friday Closing Sale

Move

Div Yield%

Price/ NTA %

52 Week High

52 Week low

AMP Office

87

84

-3

10.57%

90%

113

83

Capital Properties

44

45

1

15.20%

%

68

41

Colonial First Property

86

86

0

N/A

N/A

100

86

Kiwi Development

130

130

0

N/A

173%

145

17

Kiwi Prop B

68

66

-2

N/A

%

83

59

Kiwi Prop N

98

98

0

10.56%

114%

112

94.8

National Property Trust

88

89

1

11.18%

88%

111

84

Newmarket Property Trust

54

55

1

17.27%

73%

72

47

Property For Industry

69

68

-1

9.16%

114%

91

66

Shortland Properties

66

65

-1

7.48%

74%

68

51

Southern Capital

73

68

-5

N/A

85%

95

62

St Lukes

160

159

-1

9.74%

79%

199

155

Trans Tasman Properties

29

29

0

N/A

41%

50

29

National property news

AMP Asset Management puts Orion Property Portfolio on the market:

New Zealand's largest property investment manager AMP Asset Management (AMPAM) has recently put its multi-million dollar Orion property portfolio on the market. The Orion Portfolio consists of 18 properties with the geographic spread been Auckland 41 per cent, Wellington 46 per cent, Christchurch 7 per cent and regional 6 per cent. It has a diversified profile with exposure to the commercial (59 per cent), retail (13 per cent) and industrial (28 per cent) property sectors.

The 18 properties are diversified by type and location, and have a weighted average lease term of nearly five years and possess strong tenant covenants.

AMP Asset Management is New Zealand's largest property investment company, managing a total property portfolio of $1.4 billion, including the AMP NZ Office Trust, Property for Industry and the AMP Property Fund.

Gary Cheyne and Richard Chungare principals of the Ernst and Young Real Estate Group.

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