KEY POINTS:
Andy Evans
Managing director, ING Property Trust
Andy Evans, head of ING Property Trust, which controls properties worth more than $1 billion, wants to get more balance in his life this year. In particular, he wants to eliminate 4am starts.
How would you describe 2006?
It's been
a very productive year. Unitholders have had a 14.38 per cent total return in the year to September 30 - that's income combined with unit price rise. The trust was launched in December 2002 and the average annual return has been 15.17 per cent.
What was the trust's greatest achievement?
We have been able to acquire a 50 per cent stake in the 70ha Manawatu Business Park but also the clever thing about that was the way we structured it so that buying the land doesn't dilute unitholder returns because we get a return on the vacant land. We paid $20 million for our share of the deal and are likely to end up with a $150 million to $200 million development. Another big step was changing our corporate governance rules. For me personally, that's a big thing.
And the greatest disappointment?
Not achieving the balance in life between home and work. I was at work at 4am today because I got up and rather than going for a run, I thought "I've got so much to do and there's 10 working days before the holidays". It was nice and quiet and I got in a 40-minute run as well. [This] year, I'm looking at restructuring the property team and delegating more.
What do you think 2007 will bring?
For property, another strong 12-month period. The trust owns properties worth $920 million and via the management of Calan Healthcare Properties Trust, another $200 million. Our intention is to merge the two and that will be one of the initiatives in 2007. For me personally, I'm still playing rugby and still running which I enjoy.
What will be the greatest challenges in 2007?
Finding property to buy. Finding off-market transactions so we're not competing with all the New Zealand buyers and private equity buyers.
Where are you going for the holidays?
To beautiful Waikanae out of Wellington where [wife] Lisa's folks are and a week in Gisborne where my side of the family is. So we try to spend a bit of time with both sides of the family.
What are you reading?
Copious amounts of research that comes from the real estate agencies, about planning for the future in the Auckland market from Jones Lang LaSalle. I'm not reading any books because I just don't have the time - that's part of the balance I'm aiming to achieve in 2007.
