Page 7 - Asset Plus News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Concerns raised as Nido investors canvassed about adding in more money 8 Apr, 2021 05:00 PM 6 minutes to read Magsons, trading under the Nido brand, collapsed into receivership on Friday. Video / Will Trafford Investors who poured money into a scheme used to fund development of the failed Nido homeware store in West Auckland have been asked if they are willing to commit more funds in order to retain ownership of the building. This comes as fresh concerns are raised about the original investment scheme that saw retail investors contribute around half of the $62 million raised...

Covid-19 stung Asset Plus with a cancelled capital raise and materially lower property values. NZX-listed property fund Asset Plus posted a $14.7 million loss for its 2020 financial year, dragged down by lower property valuations as a result of Covid-19. Revenue was up 14% to $10.5m but the final profit was down materially on the $3.8m profit it posted the year before. The revenue increase was because of the acquisition during the year of the Auckland Council building at 35 Graham St, partly offset against the sale of the Heinz Wattie's distribution centre in Hastings. The fund also bought ...

The money will be used to pay down debt ahead of major Auckland office developments. NZX-listed Asset Plus has sold the Eastgate Shopping Centre in Christchurch for $43.5 million to free up its balance sheet for a hefty redevelopment pipeline. The shopping centre will be sold to an unidentified New Zealand private investor between August 22 and February 22.  Asset Plus said the deferred settlement date would provide Asset Plus with rental earnings from the centre while it focuses on building its $142m Munroe Lane development in Albany. The sale of Eastgate leaves Asset Plus with just its...

Confessions of a property guru: Making millions and losing some 15 minutes to read Jane Phare is a senior business reporter for the New Zealand Heraldjane.phare@nzme.co.nz Property syndication guru Mark Francis talks to Jane Phare about building up Augusta to prepare for takeover, his network of friendships and how Covid-19 knocked millions off his wealth. Posing for photos outside his grand office entrance, there's a moment when Mark Francis looks almost mournful. Guarding the office suite are two massive bronze doors, the handles forming a stylish "A" for Augusta. Named af...

Jarden Brief: Why US markets hit all-time highs overnight 16 Feb, 2021 11:17 PM 6 minutes to read Optimism surrounding vaccines has had a positive impact on the US market. Photo / Getty Images NZ Herald Jarden New Zealand The S&P NZ50 finished the day up 0.8 per cent yesterday after the director general for health announced that there were no new Covid-19 cases in the community, raising hopes that the most recent lockdown measures may not require an extension. In response, the best performing sector on the day was Consumer Staples, which added 1.7 per cent, followed by Indus...