Investore Property Limited (IPL.NZ)

NZD 1.12

(-0.88%)

Market Cap (In NZD)

422.93 Million

Revenue (In NZD)

72.82 Million

Net Income (In NZD)

-67.11 Million

Avg. Volume

361.16 Thousand

Currency
NZD
Country
Real Estate
Open
-
Prev. Close
-
Day Range
-
Year Range
0.97-1.29
PE
11.2
EPS
0.1
Beta Value
0.306
ISIN
NZIPLE0001S3
CUSIP
-
CIK
-
Shares
377623000.0
Earnings Annoncement
-

Company Profile

Sector
Real Estate
Industry
REIT - Retail
CEO
Mr. Philip Littlewood B.Com., M.B.A.
Employee Count
-
Website
https://www.investoreproperty.co.nz
Ipo Date
2016-07-11
Details
Investore Property Limited (Investore) is a commercial property ownership business that has been established to invest in quality Large Format Retail property assets. Investore was established in October 2015 in connection with the acquisition of 19 Countdown supermarkets from Antipodean Supermarkets Limited and Antipodean Properties Limited. The transfer of six properties from Stride Property Limited (Stride) and Stride Holdings Limited to Investore took place between 29 April and 9 June 2016 by way of sale and purchase agreements for cash consideration equal to the most recently obtained independent valuation of the properties transferred (in each case, 31 March 2016). In June 2016, Investore entered into a sale and purchase agreement to acquire 14 Countdown supermarkets from Shopping Centres Australasia Property Group Trustee NZ Limited (the SCA Acquisition). Settlement of six properties occurred on 12 July 2016, with the other eight properties expected to settle in September 2016. Investore's investment strategy is focused on Large Format Retail property assets. Large Format Retail means a single-storey or low level property comprising retail shops and outlets and car parking areas with more than 50% of the property generally occupied by, and more than 50% of the rental generally provided by, a single major tenant or a limited number of major tenants under net leases. Investore believes that Large Format Retail assets have a specific, differentiating set of attributes that can provide a reliable income return to shareholders.