Property
Explore the latest property news by BusinessDesk.
Precinct Properties profits up, Commercial Bay on track
Precinct Properties more than doubled its first-half earnings as it booked a $50 million claim against Fletcher Building for delays at Auckland’s Commercial Bay development. The commercial office specialist said its liquidated damages claim against main contractor Fletcher is vir...
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Infrastructure
ANALYSIS: Fletcher shares jump 4.4% after poor result
At first glance, Fletcher Building's first-half results were awful and even worse than analysts had been expecting.But the market took heart from the company maintaining its guidance for the full-year results and from its explanations for why the second-half result should be even...
Vital Healthcare's first-half profit climbs 22.2%
Vital Healthcare Property Trust's manager said first-half net profit rose 22.2 percent and normalised distributable income was up 14.6 percent as the value of its properties increased, rents rose and interest costs fell. Vital's net profit for the six months ended December ros...
Infrastructure
Fletcher patience over Ihumatao running out
Fletcher Building is signalling it is running out of patience with the protracted arguments over the future of its Ihumatao site in Auckland."Fletcher Building has done our very best to allow for the parties to reach an agreement over an extended period, but we are not in a posit...
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Oliver Lewis
Infrastructure Editor
Oliver Lewis won the local government reporting category at the 2023 Voyager Media Awards. He is part of our investigations unit and also covers infrastructure, housing and employment issues. Formerly with Stuff/The Press, Oliver has also written for the Guardian and North & South.
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articles by Oliver