How you can own a part of Sylvia Park (for less than $1000)

If you like shopping, chances are you have been to Sylvia Park in Mt Wellington, Auckland.

Sylvia Park is one of New Zealand’s finest shopping centres. You can find JB Hi-Fi, Noel Leeming, Hoyts Cinemas, PAK’nSAVE, Countdown, Espirit, Country Road, Just Jeans, Cue and much more.

What you may not know is that Sylvia Park Shopping Centre is owned by Kiwi Property Limited. Kiwi Property Limited also owns Lynnmall in New Lynn , The Plaza in Palmerston North and several other shopping centres in New Zealand. If you work in Auckland CBD, you may be familiar with the Vero Centre and the ASB headquarters on the waterfront. These too are owned by Kiwi Property Limited.

Kiwi Property Limited is listed on the NZX stock exchange.

You can buy shares in Kiwi Property Limited (its ticker code is KPG). In return, you will receive dividends and any gains in the share price. As at 25 March 2016, the share price was $1.40. Based on last year’s dividends of 6.55 cents per share, this will get you a return of 4.6% before tax. If you invested in 500 shares ($700), you could look forward to a yield of 4.6%. That’s pretty good compared to receiving 2% on BNZ or Kiwibank’s term deposit.

For more information on share investing, you should seek information from your financial adviser.

 

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