Tough retailing conditions translate into falling Kiwi retail property values

Tue, 02 Apr 2019

By Jenny Ruth April 3 (BusinessDesk) - Tough times for retailers, including disruption from online retailing, is translating into falling retail property values. Kiwi Property Group says that although its overall portfolio’s value has increased by $47 million, or 1.5 percent, to $3.2 billion at March 31 compared with a year ago, the value of its retail portfolio - its traditional retail centres - has fallen by $28 million, or 4.5 percent, to $598 million. Retail New Zealand acting chief executive Greg Harford says retailing in New Zeal...

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