AMP NZ Office Trust profit up over 9 months

Sunday 23 May 2004

AMP NZ Office Trust nudged up its after-tax profit slightly from $25.5 million in the nine months ended March last year to $26.3 million this year.

By The Landlord

Trust executive manager Rob Lang said unitholders would get a 1.75c quarterly dividend on June 9 and the trust was on target to deliver its forecast dividend of 7c for the full year to June 30.

During the past nine months, the trust has completed a $62 million buyback of units from investors, settled the $23.9 million purchase of Wellington's Pastoral House and started a $15.5 million refurbishment of the building. The Ministry of Health took up tenancy at 3 The Terrace, in Wellington.

Read More - Opens in a new window
Commenting is closed

Property News

Key reform will only protect bad tenants

Getting rid of “no cause” termination notices only serves to protect bad tenants and will have a negative impact on the broader community, not just landlords, according to landlord advocates.


Demand challenges for commercial sector

Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.


Mortgage rates may be at cycle low: ASB

Take note, investors: It is "quite possible" fixed rate mortgages have hit their lowest point in this cycle, according to economists at ASB.

Site by PHP Developer