Alas - the one day deal ended quicker than a Briscoes sale before I was able to complete the funds shift. Hopefully, like at Briscoes, another one day sale is probably right around the corner.
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Alas - the one day deal ended quicker than a Briscoes sale before I was able to complete the funds shift. Hopefully, like at Briscoes, another one day sale is probably right around the corner.
Sale back on! I’ll be feasting at the trough tomorrow morning hopefully.
I am liking the new office build going up at sylvia. Reports suggest that lease costs (per sqm) are increasing for premium office space, which I do believe this would be. Here's hoping that kpg are budgeting for high yield and a strong development margin.
KPG
03/11/2022 11:02
GENERAL
NOT PRICE SENSITIVE
REL: 1102 HRS Kiwi Property Group Limited
GENERAL: KPG: Kiwi Property secures Drury private plan change
Kiwi Property today advised that its Drury private plan change application
has been approved by the Environment Court. The company's 53-hectare Drury
site will now be re-zoned as a metropolitan town centre, providing the
ability to be intensified up to a height of 72 metres.
Kiwi Property GM Development, Ian Passau, said the successful outcome would
unlock a range of exciting opportunities and enable the company to move
forward with its plans to create a sustainable mixed-use community south of
Auckland, over time.
"Drury is expected to become home to around 60,000 people in the next 30
years, providing a unique opportunity to build a city from the ground up.
Today's ruling confirms Kiwi Property's site as the location for the future
town centre and a nexus for development in the area over the coming decades.
"The successful plan change outcome will help generate value and enable us to
move forward with stage one earthworks. We're looking forward to developing a
thriving community where people from across the region will live, work, play
and stay."
ENDS
If KPG pull this off it will be the preferred reit and will trade at a premium to NTA/ trade on a lower dividend yield
So you could hold and collect the 10% divvy + nta creep + big sp re-rate :t_up:
I dont think anyone thought this wouldn’t be granted, nevertheless still good to see it happen and earthworks can begin.
KPG share price still trending down ...... hope it turns before it reaches a new (recent) low