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15-10-2014, 12:50 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
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Singapore interest in NZ malls
By Anne Gibson (http://www.nzherald.co.nz/anne-gibson/news/headlines.cfm?a_id=39) @Anne Gibson
5:00 AM Wednesday Oct 15, 2014
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Photo / Dean Purcell
Auckland investment specialists are closely watching Singapore's Government Investment Corporation, believed to have submitted an attractive bid for New Zealand's biggest and most valuable collection of shopping malls.
If the sale to one of the world's biggest investment businesses goes ahead, all nine Scentre Group malls, once branded Westfield, will change hands in a $1 billion-plus deal but neither GIC nor Scentre is commenting on the speculation.
Shane Solly, Auckland-based director, portfolio manager and research analyst with institutional investor Harbour Asset Management, said Scentre - the A$17.3 billion shopping centre trust born out of the controversy of the Westfield restructure - might quit its New Zealand shopping mall portfolio.
"Scentre is not distressed. It does not have to sell assets, but it has the ability to sell assets where it makes sense for Scentre shareholders," Solly said.
"Investor demand for New Zealand institutional grade property assets remains high."
The Australian reported on the situation this month: "Scentre, which owns the Australian and New Zealand shopping malls that were spun out of Westfield this year, is also widely believed to be contemplating spinning off the assets into a new vehicle that will be listed on either the New Zealand stock exchange or the Australian bourse."
By Anne Gibson (http://www.nzherald.co.nz/anne-gibson/news/headlines.cfm?a_id=39) @Anne Gibson
- NZ Herald (http://www.nzherald.co.nz/)
Copyright ©2014, APN New Zealand Limited
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?192011-GIC-buying-up-NZ&goto=newpost).
http://www.nzherald.co.nz/themes/1/img/printLogo.png
Singapore interest in NZ malls
By Anne Gibson (http://www.nzherald.co.nz/anne-gibson/news/headlines.cfm?a_id=39) @Anne Gibson
5:00 AM Wednesday Oct 15, 2014
http://media.nzherald.co.nz/webcontent/image/jpg/201442/SCCZEN_A_261213NZHDPBOXING14_220x147.jpg
Photo / Dean Purcell
Auckland investment specialists are closely watching Singapore's Government Investment Corporation, believed to have submitted an attractive bid for New Zealand's biggest and most valuable collection of shopping malls.
If the sale to one of the world's biggest investment businesses goes ahead, all nine Scentre Group malls, once branded Westfield, will change hands in a $1 billion-plus deal but neither GIC nor Scentre is commenting on the speculation.
Shane Solly, Auckland-based director, portfolio manager and research analyst with institutional investor Harbour Asset Management, said Scentre - the A$17.3 billion shopping centre trust born out of the controversy of the Westfield restructure - might quit its New Zealand shopping mall portfolio.
"Scentre is not distressed. It does not have to sell assets, but it has the ability to sell assets where it makes sense for Scentre shareholders," Solly said.
"Investor demand for New Zealand institutional grade property assets remains high."
The Australian reported on the situation this month: "Scentre, which owns the Australian and New Zealand shopping malls that were spun out of Westfield this year, is also widely believed to be contemplating spinning off the assets into a new vehicle that will be listed on either the New Zealand stock exchange or the Australian bourse."
By Anne Gibson (http://www.nzherald.co.nz/anne-gibson/news/headlines.cfm?a_id=39) @Anne Gibson
- NZ Herald (http://www.nzherald.co.nz/)
Copyright ©2014, APN New Zealand Limited
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?192011-GIC-buying-up-NZ&goto=newpost).