Listed AMP NZ Office Trust's full year result for the twelve months to June 30 revealed an unrealised net loss of $152.12 compared to $192.84 the same time last year.Distributable profit rose slightly by 2.5% or $1.49 million to $60.67 million. Shareholde
Listed AMP NZ Office Trust’s full year result for the twelve months to June 30 revealed an unrealised net loss of $152.12 compared to $192.84 the same time last year.
Distributable profit rose slightly by 2.5% or $1.49 million to $60.67 million. Shareholders will receive a total gross distribution of 7.05 cents a unit for the year, up from 6.92 cents the previous year.
Its rental income was up 3.4% or $4.54 million to $137.92 million, and NTA was down from $0.97 last year to $0.75 a unit.
Gearing remains low at 22.8%, and it has 94.5% of its total bank debt fixed with interest rate swaps at a weighted average interest rate of 7.9%.
The 15 commercial buildings in its portfolio are 90.4% occupied. Its largely empty 21 Queen St asset skews the overall average occupancy but 12 of its properties are more than 95% occupied.
AMP NZ Office Trust’s portfolio includes properties such as Auckland’s PricewaterhouseCoopers tower and Vodafone on the Quay at Wellington.
At press time its shares were trading at 71 cents a unit.
