About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, November 15th, 4:33PM
rss
Latest Headlines

Sale 'underlines confidence' in market

AMP Capital is selling 18 New Zealand properties, worth $1 billion, to Canada’s Public Sector Pension Investment Board.

Thursday, July 10th 2014, 12:00AM

by The Landlord

The sale is subject to Overseas Investment Office approval.

The properties include the Botany Town Centre, Manukau Supa Centre and the PricewaterhouseCoopers Tower in Wellington.

AMP Capital Property Portfolio General Manager Stephen Costley said: “This is a great result for all parties involved in the transaction.  The vendors have realised their strategy to sell at a price that delivers value for investors, the purchaser is acquiring a quality, diversified property portfolio, AMP Capital retains its management of these assets and the transaction highlights the strength of the New Zealand economy and its status as an attractive investment destination.”

He said it reinforced the confidence in New Zealand’s economy and property market.

The New Zealand Super Fund had a 29.69% stage in the AMP Property Portfolio.

Chief investment officer Matt Whineray said the sale was timed to take advantage of market conditions.

“As a long-term investor, the NZ Super Fund has a greater ability than many investors to choose when to realise its investments. The opportunity to sell the portfolio to a single buyer was an attractive one,” he said.

“We are always looking to optimise the mix of investments in the Fund with a view to maximising long-term returns. The sale proceeds will be invested in predominantly growth-oriented domestic and international investment opportunities.”

« Queenstown appealing to investors'Good time to be commercial landlord' »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • FMA fesses up to website breach and apologises
    “Correct quote from the Act but reporting is not mandatory as the wording used is "may" not must. Shanks comments have beenquoted...”
    8 hours ago by gavin austin adviser business compliance
  • When is a client really a client?
    “Agree Murray. Financial consideration has nothing to do with the new laws. Might I suggest that the government and the...”
    9 hours ago by JPHale
  • When is a client really a client?
    “I think anyone who thinks someone becomes their client only after that person has accepted an advice recommendation from...”
    23 hours ago by Murray Weatherston
  • When is a client really a client?
    “thanks regant, generally agree with you. not your fault that i didn't make myself clear enough. ...”
    24 hours ago by w k
  • Long-serving ACC investment chief calls it a day
    “I'm surprised that no-one has commented yet, but isn't it a little strange that their in-house equities strategy is following...”
    1 day ago by smitty
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 ▼4.14 ▲4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.39 ▲3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - ▼3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.04 4.09 4.39

Last updated: 15 November 2019 4:16pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com