A bullish outlook for New Zealand's second-largest listed landlord, AMP NZ Office Trust, has resulted in its units soaring since August.
Monday, November 1st 2004, 7:04AM
by The Landlord
Property entities often complain of a trading discount to their asset backing.
But this Wellington-headquartered trust run by Rob Lang has surged in the past three months.
The trust's units are now trading about the 86c mark.
This week, it announced it would increase the next two quarterly distributions.
With $759 million worth of assets in the CBD commercial office market, Lang said the trust had a sinking-lid approach to costs, trying to reduce its tenants' electricity consumption.
