At a Glance

Quality Assets Offer Long-term Stability

Kiwi Income Property Trust is New Zealand's largest property trust, with $1.83* billion invested in a diversified portfolio of prime office and retail assets located throughout New Zealand.  The Trust listed on the New Zealand Stock Exchange in December 1993.

The Trust’s objective is to optimise earnings and provide attractive long-term sustainable returns to investors through the strategic acquisition, professional management and ongoing development of office, retail and industrial property assets.

This objective is achieved through:

• investing in a high-quality diversified portfolio of office, retail and industrial assets throughout New Zealand, with a range of lease maturities;
  
  
• fostering long-term tenant relationships as a means of enhancing strong and robust performance;
  
  
• adopting an active management philosophy encompassing asset and financial management, strategic investments, acquisitions and divestments and the judicious development of new and existing assets;
  
  
• maintaining a strong balance sheet with prudent borrowing levels.  The Trust Deed requires the level of borrowings to be maintained at no more than 40% of the gross value of the Trust; and
  
  
• utilising the resources of the Manager’s parent, Colonial First State Property Limited, and ultimate parent, Commonwealth Bank of Australia (CBA). CBA is one of the leading providers of financial services in Australasia and is best known in New Zealand for its ownership of ASB Bank and Sovereign Assurance.  The ability of the Manager to access the skills and experience of one of Australasia’s leading fund managers has strengthened the Trust’s culture of innovation and success.

* As at 30 September 2009