New Zealand’s largest diversified property company, we’ve been providing great places for people to shop and work for more than 20 years.
We listed on the NZX in December 1993 and today hold a portfolio of $3.0 billion.
Who is Kiwi Property?
We are one of the leading property investment companies in New Zealand, and we’re focused on delivering superior returns for our investors through the active management of a high-quality portfolio of shopping centres and office buildings.
In our more than two decades of operation, we’ve never wavered from our strategy and we continue to focus only on the New Zealand property sector.
Kiwi Property was created by Richard Didsbury and Ross Green, two New Zealand-based businessmen whose vision was to create a property investment vehicle that had robust layers of governance and an investment strategy that focused on sustainable returns.
Based on the highly successful and transparent models of the Australian real estate investment trust market, our business listed on the NZX as Kiwi Income Property Trust in December 1993. We were the first entity of our kind in New Zealand, and today remain the largest listed diversified property company on the NZX. We changed our name to Kiwi Property in December 2014, after we moved from a trust to a company structure.
We remain exclusively focused on New Zealand’s retail and office property sectors, and we are an active asset manager, which means we are hands-on in optimising the performance of all of the assets we manage and own on behalf of our investors.
Our vision is to deliver New Zealand’s best retail and workplace experiences.Our history
We have a clear objective for our investors, which is to provide them with a reliable investment in New Zealand property, targeting superior, risk-adjusted returns over time through the ownership and active management of a diversified, high quality portfolio.
We’re committed to this objective by:
- investing in a high-quality diversified property portfolio throughout New Zealand, with a broad range of tenants and lease maturities
- fostering long-term tenant relationships to enhance investment performance
- being an active manager, which means we focus daily on closely managing our assets and finances, developing and executing strategies to acquire or divest assets, and judiciously developing new or existing assets for optimal performance, and
- maintaining a strong balance sheet with conservative borrowing levels.
Our strategy is built on three core pillars:
Maintain a strong balance sheet
By maintaining a strong financial position and conservative gearing with appropriate diversity of debt capital sources, a low cost of capital can be maintained thereby optimising equity returns.
Intensively manage our assets
By intensively managing our property assets we can optimise income and investment performance.
Add value through investment decisions
By maintaining a rigorous approach we can add value through our investment decisions to optimise earnings through the strategic acquisition, divestment and development of property assets.
Our core portfolio
We have a strong bias to Auckland
We favour Auckland because of its superior prospects for economic, population and employment growth.
We have a strong retail bias
- dominant regional shopping centres
- large format retail centres that are located in: – locations favoured by the Auckland Unitary Plan – regions outside of Auckland with positive growth prospects
Our office portfolio
- prime-grade assets in Auckland
- office buildings in Wellington with long-term leases to the CrownWe also manage properties for third parties and joint owners to diversify our investments and leverage our management platform.
Third party management
We also manage properties for third parties and joint owners to diversify our investments and leverage our management platform.
We are passionate about delivering exceptional results in everything we do. For our investors, our goal is to deliver long-term total returns greater than 9% per annum, underpinned by pre-tax distributable earnings per unit growth of at least 2% per annum.
For our tenants and their customers and clients, our goal is to create and sustain places that positively contribute to peoples’ lives.