https://www.nzherald.co.nz/business/...ectid=12286165
Looks good - I foresee mixed residential apartments and facilities like recreational centre/swimming facilities on Carbine Road side of the train station.
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https://www.nzherald.co.nz/business/...ectid=12286165
Looks good - I foresee mixed residential apartments and facilities like recreational centre/swimming facilities on Carbine Road side of the train station.
Any opinions on this? Was almost trading on a 20% discount to NTA this morning.
Agreed and then there's this, https://www.linkedin.com/pulse/world...tin-lindstrom/. (Thanks Winner69 for the very interesting information). Will we see some degree of permanent change in consumer behaviour towards malls ?
Have a BUY order placed on KPG now. Seems like a heavy discount to their NTA, and given their significant property portfolio, I'm pretty confident about their future.
Also the other LPTs like Argosy, Stride, Goodmans, Property for industry, Precinct - all worth picking through. Remember the intrinsic value of warehouses, office buildings etc is heavily underpinned by bricks and mortar - while shopping malls, big box retailers etc are heavily underpinned by their location and foot-traffic, and not so much by the structure. Their tenants ability to pay rent will be more affected by the economy - some rents may need to be renegotiated.
Just got an email for Reading Cinema's All cinema's across Australia and New Zealand closed until further notice. Posted in here because they have a cinema in my local mall owned by KPG. I think this is an ominous sign for times ahead for KPG. I am certain many of their tenants will not be in a position to pay rent for the foreseeable future.
Event theatre's also closing today https://www.nzherald.co.nz/entertain...ectid=12319045
https://www.nzx.com/announcements/351283
Interesting announcement this morning. Cancellation of half year dividend, pay cuts, other cost savings measures and deferral of capex are all signs that the effect on this relatively modestly geared company is very serious.