Trans Tasman Properties to move to Singapore
Monday 15 November 2004
Trans Tasman Properties (TTP) said today it was shifting to Singapore.
By The LandlordThe move was the result of the successful implementation of its counter-cyclical investment strategy in Asia, the company said.
"The board has felt it prudent to consider at this point of time whether the current management structure of the group is efficient from both an asset management and fiscal perspective," executive chairman Don Fletcher said.
"The board has resolved in the best interests of the company to shift Trans Tasman's head office, along with primary control, management and administration of the Trans Tasman group's assets, to Singapore."
The move would allow management to be closer to TTP's significant investments.
Read More - Opens in a new window
Commenting is closed
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.
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.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.