Land boosts Northland Port value

Thursday 7 October 2004

Shareholders' funds in Northland Port Corporation increased by $45.09 million after an independent revaluation of 180 hectares of Marsden Pt land.

By The Landlord

The increase was the main factor in the jump of Northland Port Corporation's (NPC) total assets from $41,871,579 to $76,480,990 in the 2003/04 financial year.

Chairman Mike Daniel said the revaluation had highlighted the land bank's previously "hidden value" and the foresight of directors in buying the land in previous years.

The revaluation does not include the area for Northland Port Corporation's joint canal and marina development with Hopper Developments Ltd (Marsden Cove Ltd), or any assessment of the enterprise value of NPC's various associate companies and joint ventures operating at Marsden Pt.


Read More - Opens in a new window
Commenting is closed

Property News

Return to market form

There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.

Mortgages

LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer