Provided by NZX
  • KIP1.255

    $ 0.0000%

  • Open 1.255 High 0 Low 0 Bid Price 0

    Offer Price 0 Value 0 Volume 0

Current as of 18/12/14 07:40PM NZST

Business Leaders of the year: Angus McNaughton

Head of Kiwi Income Property Trust

The man who heads the trust that opened the country's largest new shopping centre this year can be satisfied with the last 12 months.

Not only did McNaughton open his $337 million Sylvia Park centre, but he kept it open despite threats from Transit after Auckland's motorways ground to a halt on opening day.

But a shopper stampede can't be all bad - and not all the estimated 40,000 who poured in during early June were after cheap TVs at The Warehouse Extra. And how they have splurged.

McNaughton's Kiwi Income Property Trust which owns the hyper-mart, overcame vehement institutional investor resistance to developing the park. And now the investors reckon the centre is a cracker. And by this time next year, the final third and fourth stages will be open.

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production apcf03 at 18 Dec 2014 22:39:10 Processing Time: 2375ms