Downturn bites into Kiwi Property returns

Downturn bites into Kiwi Property returns
Resido BTR brand will be launched in May. (Image: KPG)
Brent Melville
Kiwi Property's investment portfolio fell 2.5% by value, or $81.1 million to $3.1 billion at Sept 30, with property disposals also contributing to a net loss of $36.5m for the first half of the year.The New Zealand stock exchange listed real estate group realised $127m from the divestment of its Westgate Lifestyle and Sylvia Park Ikea sites during the period, largely contributing to an 11.3% slide in revenues to $117.7m from $132.7m for the comparable period last year.The group now has a portfolio of four mixed-use, three office and two ret...

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