Commercial

Value of port land could double

The value of Ports of Auckland's blue-chip waterfront investment land, on the western reclamation, could nearly double overnight when it is rezoned from industrial to commercial and residential.

Monday, May 23rd 2005

In a report valuing Auckland Regional Holdings' $8 a share offer for the 20 per cent of the port company it does not already own, valuer Grant Samuel said the company's investment land could be worth between $170 million and $197.25 million.

It said this non-operational land was worth $102 million on December 31 last year. And it was confident the port company would get the green light for the rezoning from the Auckland City Council.

An analyst said the valuation could be $100 million less than some property watchers anticipated.

But the 17ha chunk of land would take many years to fill up and would not be the "next Macau". It would not be occupied by money-spinning casinos and nightclubs but by passive users, so its prospective value was discounted.

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Property investors refocus on cash flow

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Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

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