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  1. #101
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    KPG - Kiwi Property reports June sales growth
    30/7/2020, 9:48 am GENERAL
    Sales update:

    Kiwi Property today released its sales data for June – the first full month of trading since New Zealand exited lockdown.

    Adjusted sales at the Company’s shopping centre portfolio were up 7.5% on the same period last year, while total June sales increased 0.5% [NOTE 1]. Sylvia Park in Auckland, The Base in Hamilton and The Plaza in Palmerston performed particularly well, recording strong sales during the month.

    Linda Trainer, Kiwi Property GM Asset Management, said the solid trading performance was encouraging.

    “Following a surge in post-lockdown retail activity, much of the momentum has continued through June. Our top performing shopping centres going into COVID-19 have typically rebounded the fastest, as have large format retailers, driven by increased leisure and sporting goods purchases. It’s difficult to predict how the next few months will shape up and a lot will depend on the state of the economy, but for now, sales remain strong.”

    Credit rating:

    Kiwi Property also advised that S&P Global Ratings [NOTE 2] has reaffirmed the Company's investment grade BBB (stable) issuer credit rating. Kiwi Property’s fixed rate senior secured bonds have a credit rating of BBB+.

    End

    Note
    1. Adjusted sales exclude cinemas, travel and foreign exchange, which were unable to trade at full capacity during to COVID-19.
    Last edited by LaserEyeKiwi; 30-07-2020 at 10:01 AM.

  2. #102
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    Took a walk along Newmarket Broadway today, on one side, in a stretch of maybe 150m, I counted 12 shops vacated/for-lease signs. And behind me (near the large now empty ANZ) a ForLease sign in Vodafone's window, altho they were still doing business. And that is with the economy "showing unexpected resilience", which one presumes is a temporary thing.
    Minor reality check on retail property.

  3. #103
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    Quote Originally Posted by dibble View Post
    Took a walk along Newmarket Broadway today, on one side, in a stretch of maybe 150m, I counted 12 shops vacated/for-lease signs. And behind me (near the large now empty ANZ) a ForLease sign in Vodafone's window, altho they were still doing business. And that is with the economy "showing unexpected resilience", which one presumes is a temporary thing.
    Minor reality check on retail property.
    The new mall appears to be pretty busy though, I guess mostly at Broadways expense.

  4. #104
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    Quote Originally Posted by dibble View Post
    Took a walk along Newmarket Broadway today, on one side, in a stretch of maybe 150m, I counted 12 shops vacated/for-lease signs. And behind me (near the large now empty ANZ) a ForLease sign in Vodafone's window, altho they were still doing business. And that is with the economy "showing unexpected resilience", which one presumes is a temporary thing.
    Minor reality check on retail property.
    What sizes shops? Large operations, or small owner operated ventures? I'm not familiar with the area. I'm in Dunedin and I'm sure some of the smaller, older style shops that haven't already failed will in the near future. Fair to say several would have been hanging on by the skin of their teeth anyway - but couldn't survive the final push.

  5. #105
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    Is Broadway still Auckland's premier strip-shopping street? If so, it doesn't augur well for retail if it's struggling to let its shops.

  6. #106
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    Quote Originally Posted by fungus pudding View Post
    What sizes shops? Large operations, or small owner operated ventures? I'm not familiar with the area. I'm in Dunedin and I'm sure some of the smaller, older style shops that haven't already failed will in the near future. Fair to say several would have been hanging on by the skin of their teeth anyway - but couldn't survive the final push.
    Mostly pretty small (maybe of flightcenter size) and usually 2-3 vacant is not unusual just by the turnover nature of small outlets but also a sprinkling of slightly larger ones like the ANZ. But (to macduffy) it is a pretty s****y strip full of boutiques so such a high number is rather a surprise. If it fills up with $2 shops that might be a dire moment. A dead main street cant be good for the new mall.

  7. #107
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    Is that big new mall on Broadway still have a tremble you feel thru yr feet?
    I was in it last yr, and when I asked one of the staff why so, I was told it was caused by people playing 10 pin bowling.
    Really, doesn't say much for its building standards.
    I hope its not our next CHCH TV building to collapse?

  8. #108
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    Quote Originally Posted by Getty View Post
    Is that big new mall on Broadway still have a tremble you feel thru yr feet?
    I was in it last yr, and when I asked one of the staff why so, I was told it was caused by people playing 10 pin bowling.
    Really, doesn't say much for its building standards.
    I hope its not our next CHCH TV building to collapse?
    It will be a poorly designed floor, with poor consideration of vibration. Something that light weight, cheap construction methods suffer from. I had experienced it myself when visiting the mall. It is quite disconcerting.

  9. #109
    Junior Member teabag's Avatar
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    Quote Originally Posted by dibble View Post
    Took a walk along Newmarket Broadway today, on one side, in a stretch of maybe 150m, I counted 12 shops vacated/for-lease signs. And behind me (near the large now empty ANZ) a ForLease sign in Vodafone's window, altho they were still doing business. And that is with the economy "showing unexpected resilience", which one presumes is a temporary thing.
    Minor reality check on retail property.
    Walked along there yesterday, the majority of empty shops that still had identification on them have moved into Westfield, 100m up the street. There has always been a significant number of "niche" retail there, which I have always wondered how they managed to survive - I guess Covid has been the final straw for them.

  10. #110
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    Herald Premium, but this looks like good news “ A giant of NZX property companies has won state consent to buy Auckland property in what could be a signal that it is about to advance its build-to-rent plans”

  11. #111
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    next..KPG....will be patiently waiting for good news...just like my HGH

  12. #112
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    I cashed in my HGH on the last run unfortunately but still have some KPG left

  13. #113
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    Quote Originally Posted by clown View Post
    I cashed in my HGH on the last run unfortunately but still have some KPG left
    Me too! Still hold both, hanging in.

  14. #114
    Advanced Member King1212's Avatar
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