05 Sep 2014 Annual Meeting Chairman and Chief Executive Address
DNZ 2014 Annual Meeting Chairman and Chief Executive Address 5/09/2014
DNZ Property Fund Limited has provided the NZX with a copy of the DNZ Chairman’s and Chief Executive’s address for the Annual Meeting that is being held today at 10am, Ellerslie Racecourse, Auckland.
Attachments provided to NZX:
DNZ 2014 Annual Meeting Chairman and Chief Executive Address
DNZ 2014 Annual Meeting Presentation
For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 – Email: firstname.lastname@example.org
Peter Alexander, Chief Executive Officer, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: email@example.com
DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with $773.35 million* (as at 30 June 2014) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2014, DNZ Property Fund owned 45 properties with 291 tenants, a weighted average lease term (WALT) of 5.5 years and an occupancy rate of 99.21% over a net lettable area of 358,207m².
DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ is also the manager of Diversified NZ Property Fund Limited, a $115.9 million (as at 31 March 2014) commercial property fund.
DNZ’s top 10 tenants as at 30 June 2014: Bunnings, Progressive Enterprises (Countdown), Foodstuffs (PAK’nSAVE & New World), ASB, NZ Government, Fletcher Building, The Warehouse, Westpac, Meridian and Lion. These 10 tenants represent 51% of the Company’s total contract rental.
* 31 March 2014 valuations less assets sold post 31 March 2014 balance date.