Precinct, 'front runner' for downtown carpark, cops downgrade

Precinct, 'front runner' for downtown carpark, cops downgrade
In the running for carpark development. (Image: Auckland Council CCMP – for illustrative purposes only)
Brent Melville
Investment house Jarden has re-rated its 12-month target price for Precinct Properties to $1.33 a share, down from $1.47, citing declining office demand across its CBD-based portfolio.Analysts Arie Dekker and Vishal Bhula are forecasting net profit after tax to be at $151 million for the 2022 financial year, down from $188m for the prior year. Net property income, meanwhile, is expected to come in at $129m, largely unchanged on the $127.7m for the 2021 year.While the analysts expect a muted outcome on the valuation front, with capitalisati...

More Property

PwC view of Du Val's solvency 'unchanged'
Property

PwC view of Du Val's solvency 'unchanged'

Statutory managers are not swayed by minority shareholders' plea to the minister.

FMA put Du Val on notice, then pulled back
Property

FMA put Du Val on notice, then pulled back

FMA let Du Val Property Group off with a warning, then moved on it once investors were in.

Garth Bray 18 Sep 2024
Ministry settles dispute over vacated office
Property

Ministry settles dispute over vacated office

The ministry intends to reoccupy in early 2026, about four years after it left.

Jem Traylen 18 Sep 2024
Property firm mismanaged us, body corporate claims
Property

Property firm mismanaged us, body corporate claims

Owners say they've had to raise a special levy to get through, thanks to Haven Living.

Maria Slade 18 Sep 2024