Properties Limited was incorporated in 1995 and
has 388 Shareholders. First NZ owns
two properties: 15 Sheffield Crescent,
Christchurch and 110 Symonds St, Auckland.
through the purchase of shares in the Company.
Shareholders have benefited from good capital
growth and minimum dividends of 10 cents per
share, per annum, which are paid
Sheffield Crescent is on a large industrial
site close to Technology Park in Christchurch.
The building is predominantly industrial high
stud warehouse space. The building is occupied
on a 10 year lease from November 2014 by NZ
Yarn Ltd who operate a processing plant
converting wool into yarn for export. The yarn
is used in the manufacture of carpet and the
processes used by NZ Yarn have unique
capabilities that allow them to be competitive
and produce a quality product that is in high
Vocus Communications Business Centre at 110
Symonds St, Auckland was purchased in September
2012. This twin towered, multi storey office
building has multiple tenancies anchored by
Vocus Communications (formerly Call Plus) .
years there have been a number of changes in
the composition of the properties in First NZ
Properties Ltd which have provided an
opportunity for capital gains for investors.
The Manager has been proactive in identifying
opportunities in the market to sell and replace
properties to optimise the returns to investors
in both capital gains and cash returns.
reports | 2015
Secondary Market Listings :Click here to access
more detail on the availability of shares in
First NZ Properties Limited.