The fact they didn’t mention an acting GM of digital or a search for replacement give me hope they aren’t going to fill that roll. The $500k salary would contribute 0.5% increase to the annual dividend if it was redirected there.
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The fact they didn’t mention an acting GM of digital or a search for replacement give me hope they aren’t going to fill that roll. The $500k salary would contribute 0.5% increase to the annual dividend if it was redirected there.
sold some land ?
Fans tip second Costco Wholesale store site, retailer won’t confirm or deny
“The second Costco warehouse has been earmarked to open in South Drury, 2026 at the earliest but exciting times ahead for sure,” that public group says
https://www.nzherald.co.nz/business/...IOGY7L7WN7QAQ/
And the first BTR’s come on soon. This is cheap as. Happy loading up in the high 7/low 8’s
“It wont happen overnight, but it will happen” - some ad tagline, I don’t remember what exactly, but applies to KPG.
- Actual bank interest rates on lending are already past their peak and falling (despite what ANZ analysts want to think), lower interest costs will help most companies, but particularly property cos.
- Actual bank term deposit rates are also already past their peak and are now starting to be cut, lower term deposit costs will make high dividend paying stocks (like KPG) look more attractive to those chasing yield.
- As noted by Baa Baa, BTR 1 at Sylvia Park starts being populated in this first half year, and will start generating income for KPG for a property that has already been paid for (eg KPG cost of capital for this project is already in company previous financials in the form of interest on cash paid for construction work the majority of which was completed in previous reporting periods).
- Drury: Minimal earthworks costs remain for stage 1, and superlot sales to housing companies are going to turn Drury from a capex expense to a cash generator in the near term. Something like a Costco site announcement would be icing on the cake.
- Asset sales. KPG remains committed to “de-risking” its portfolio, and that primarily means selling all its assets south of Hamilton. The Plaza mall in Palmy was on the market, but is quietly sitting there at present while EQ issues are negotiated. KPG had a buyer for its one remaining Wellington Office block, but that deal failed to be completed (which may or may not have a silver lining, the price was too low IMO).
Not everyone's a fan of KPGs new town in Drury.
https://www.stuff.co.nz/business/350...nge-developers
Mark Todd's criticism may involve a conflict of interest as he is competing with them in a way, but Wayne Brown is not a fan either, only because the council maintains the infrastructure.
What they are suggesting as an alternative is cramming more people into the same amount of area. Perhaps they could look at cutting immigration as most of it is into Auckland.
I like Wayne Brown he seems to be focused on his job and being practical and not frivolous with public money. His critique of the holiday highway in the herald this morning might indicate why projects keep blowing out. Although it might be that Wayne does not have a good knowledge of the challenges faced by the road builders I don't know enough about road construction to comment.
Developer not a fan of competing developers projects!
I’m shocked, ha ha ha.
Love the bit where he says Auckland should develop around railway stations, and then says he doesn’t care if Drury has a railway station.
Auckland council dropped opposition to Drury development, it’s a done deal no matter who complains.
No problem, let's make sure KPG get mayor Brown along to an opening at Drury, maybe around election time would be a weak point of he still has an attitude problem, that should balance the ledger.
Bit of a dumb argument by Mark Todd. There are a lot of jobs in Manukau/Wiri/Takanini etc. Look at FPH plans to build a new complex in Karaka was it?
The people living in Drury will live/work/play in South Auckland. Most wont work in the CBD towers. And if by chance they do they can train in.