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Member
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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Risk Manager for FTX
Any opinions on this? Was almost trading on a 20% discount to NTA this morning.
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Originally Posted by Gerald
Any opinions on this? Was almost trading on a 20% discount to NTA this morning.
Yes, looks tempting - but so do a lot of others! The big unknown, of course, is what the downturn will do to retailers' capacity to keep their tenancies and to keep paying those rentals!
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Originally Posted by Gerald
Any opinions on this? Was almost trading on a 20% discount to NTA this morning.
If you think there will not be an epidemic in NZ they look great. Basically that the bet you are taking, because if there is one those malls will be ghost towns
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Originally Posted by ratkin
If you think there will not be an epidemic in NZ they look great. Basically that the bet you are taking, because if there is one those malls will be ghost towns
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 ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Junior Member
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.
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Originally Posted by kiwijay
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.
Last edited by fungus pudding; 17-03-2020 at 11:44 AM.
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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
Last edited by Beagle; 23-03-2020 at 12:25 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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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.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Originally Posted by Beagle
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.
Bracing for a lot of tenants to have to stop or defer paying rents.
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