Fletcher Building Ltd held an official opening on Wednesday for its Clever Core prefabricated home factory in Wiri, which the company expects will reduce onsite build times from 22 weeks to about 6-10 weeks.
Read more →Gainz
Immigration on rise again
The net inflow of migrants has risen from 49,200 for the year to August 2018 to a first estimate of 53,800 in the year to August 2019, Statistics NZ said yesterday.
Read more →Let the real battle for US control & influence begin
Tomgram contributor Andrew Bacevich captured my views splendidly in a column on the US debacles leading to the global financial crisis and into the election of Donald Trump as president.
Read more →Augusta, partners & council hit go button for Queenstown Lakeview
The partnership between NZX-listed Augusta Capital Ltd & Melbourne developer Ninety Four Feet Pty Ltd has signed the development agreement with Queenstown Lakes District Council for the 3ha Lakeview site in Queenstown.
Read more →Provincia industrial property fund settles 5th acquisition
The wholesale Provincia Property Fund Ltd has settled its latest industrial property acquisition at 1/30 Kerwyn Avenue, East Tamaki, taking the fund’s portfolio to $30.9 million.
Read more →Surgical hospital to rise beside Arvida’s new Queenstown retirement village
Tauranga-based developer Fraser Sanderson has won agreement from the Central Lakes Trust & Southern Cross Hospitals Ltd to build a new surgical hospital beside the Queenstown Country Club retirement village, which he sold to NZX-listed Arvida Group Ltd in July.
Read more →Evolve’s new board slashes its own fees
Evolve Education Group Ltd’s new board of directors said yesterday it would cut board fees by 16.7% from 1 December.
Read more →The Government revaluations
After posting today’s newsletter & the story on the Government’s annual accounts, I had another hunt for the revaluations – check below.
Read more →There’s a surplus, we’re spending it; revaluations colour it, and net national debt’s up
Business polls, which I customarily ignore for their innate bias, keep telling us the Government is performing poorly. When Finance Minister Grant Robertson reported a $7.5 billion surplus in the Crown accounts for the June year yesterday, there was an immediate clamour to spend it.
Read more →Summerset sales steady
Summerset Group Holdings Ltd is slightly behind in sales of new retirement village occupancy rights this year and slightly ahead in resales – overall, just 4 sales behind 2018 at the 9-month stage.
Read more →Oyster industrial fund fully subscribed in 3 weeks
Oyster Property Group Ltd has taken just 3 weeks to fill its offer of $17.9 million of equity in a new industrial property fund.
Read more →Australian cashrate cut third time in 4 months
Australia’s Reserve Bank followed its 2 cashrate cuts of 25 basis points in June & July with a third cut on Tuesday, to 0.75%.
Read more →Goodman completes $94 million of purchases, opens retail capital-raising
Goodman Property Trust manager Goodman (NZ) Ltd said yesterday it had completed the $65 million acquisition of the T&G Global Ltd facility in Mt Wellington and $29 million purchase of 3 adjoining sites in Mangere. The trust also opened its $15 million retail equity offer yesterday.
Read more →Augusta signs Queenstown hotel manager, sets Tourism & new diversified fund targets
Augusta Capital Ltd made 3 related investment announcements yesterday.
Read more →Reserve Bank broadly happy with economy, has scope to stimulate further
The Reserve Bank held the official cashrate at 1% today after the bank’s monetary policy committee agreed that new information since its August statement didn’t warrant a significant change to the outlook.
Read more →Summerset buys first Australian site
New Zealand retirement village developer & operator Summerset Group Holdings Ltd has bought 8ha in Melbourne for its first Australian village.
Read more →Steel & Tube also appeals fine over mesh
Steel & Tube Holdings Ltd has followed the Commerce Commission in appealing the level of a fine imposed by the High Court last month in relation to its steel mesh.
Read more →Updated: Bid rigging costs Hoy Fong $400,000 in court penalty
High Court judge Sarah Katz ordered Ron Hoy Fong’s company, Ronovation Ltd, last week to pay a $400,000 penalty after it admitted to price fixing – bid rigging – in the Auckland residential real estate market.
Read more →Revaluation boosts Goodman placement, retail offer out Thursday, 5 new projects
The Goodman Property Trust’s manager, Goodman (NZ) Ltd, said last week it expects the trust’s interim financial result to 30 September will include a revaluation of about $170 million.
Read more →Increase in steel mesh fine for Steel & Tube still not stiff enough for Commerce Commission
The Commerce Commission sought leave on Friday to file its second appeal against the sentence imposed on Steel & Tube Holdings Ltd for false & misleading representations about steel mesh products.
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