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NPT Ltd

Type: Company

Name: NPT Ltd

First reported Apr 18 2013 - Updated Apr 18 2013 - 1 reports

THE NATIONAL PROPERTY TRUST: Portfolio gains 13.33% over year

NPT Limited today reported its property valuations for the year ended 31 March 2013. The listed property company's continuing portfolio of retail, commercial and industrial property was valued at $128.35 million, up $15.1 million from the 31 March 2012 ... [Published 4 Traders - Apr 18 2013]

Entities: The National Property Trust, NPT Ltd, Property

Quotes

...521 million in November 2012. NPT's chief executive officer, Kerry Hitchcock says, "These property valuations are very positive news for NPT. Particularly gratifying is to see the value of Christchurch's Eastgate Shopping Centre continues to rise - from $35.5 million a year ago to its present value of $44.15 million at 31 March 2013. This increase of 24.37% over the 12 month period reflects the strong leasing activity that's been undertaken in the last year. "The Christchurch City Council has leased a 1,200m2 space on Eastgate's first floor for its Linwood Library and Service Centre. The lease term is three years from 1 March 2013 with a two-year right of renewal. Fit-out has begun and the library will be formally opened by Christchurch mayor Bob Parker on 30 April." In Eastgate's newly reconfigured ground floor space, Lincraft (the Australian fabric, craft and home furnishing store) signed an eight year lease for 1,500m2 space; it opened in late November. At the same time, national bookstore and stationery retailer PaperPlus opened on the ground floor in a 375m2 space, as did Number One Shoes in an 800m2 space. "The rejuvenation of Eastgate after the damage sustained in the 2011 earthquakes has been the highlight of the year for NPT. We're very much looking forward to the Linwood Library and Service Centre opening soon; this will bring in considerably more foot traffic to Eastgate. These new leases have significantly increased the value of this property, and there are more leases and development in the pipeline," says Mr Hitchcock. NPT's Print Place property in Christchurch's Middleton has risen in value over the 12 month period from $12.5 million to $13.4 million, an increase of 7.2%. This increase has been driven by recent property sales with a strong demand for quality industrial property."

THE NATIONAL PROPERTY TRUST: Portfolio gains 13.33% over year [Published 4 Traders - Apr 18 2013]

NPT's chief executive officer, Kerry Hitchcock says, "These property valuations are very positive news for NPT. Particularly gratifying is to see the value of Christchurch’s Eastgate Shopping Centre continues to rise - from $35.5 million a year ago to its present value of $44.15 million at 31 March 2013. This increase of 24.37% over the 12 month period reflects the strong leasing activity that’s been undertaken in the last year. “The Christchurch City Council has leased a 1,200m2 space on Eastgate’s first floor for its Linwood Library and Service Centre. The lease term is three years from 1 March 2013 with a two-year right of renewal. Fit-out has begun and the library will be formally opened by Christchurch mayor Bob Parker on 30 April.”"

NPT 's Property Porfolio Gains 13.33% Over Year [Published Scoop - Apr 18 2013]