Kiwi Property completes Northlands sale

Kiwi Property today completed the sale of Northlands Shopping Centre and 43 Langdons Road to Mackersy Northlands Limited Partnership.

The property was sold for $151 million (net of seismic costs), comprising $144 million of settlement funds plus $7 million of equity in the purchaser. Mackersy Property Limited has agreed to acquire the equity stake on or before 30 November 2023.

ENDS

Contact us for further information

Campbell Hodgetts
Head of Communications and Investor Relations
[email protected]
+64 275 634 985

About us

Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We’ve been around for over 25 years and proudly own and manage a significant real estate portfolio, comprising some of New Zealand’s best mixed-use, retail and office buildings. Our objective is to provide investors with a reliable investment in New Zealand property through the ownership and active management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi Property a corporate credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its fixed rate senior secured bonds. Kiwi Property is the highest rated New Zealand company within CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of benchmark and tradable indices for ESG (Environmental, Social and Governance) investors. Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz

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