Property company NPT appoints new CFO

The Hawke's Bay property market is flourishing.

The owner of Heinz Wattie's national distribution centre, NZX-listed property company NPT, has appointed Stephen Reid as chief financial officer.

Mr Reid is currently vice president of equity research at First NZ Capital, responsible for coverage of the listed property sector in New Zealand.

Prior to this he spent seven years at NZX-listed DNZ Property Fund (now renamed Stride Property) where he was most recently manager of analytics and investor relations.

He has also previously held accounting roles at NZX-listed ING Property Trust (now Argosy Property) and Metlifecare.

NPT managing director Kerry Hitchcock said the company was delighted to have him join "as we look to grow and reshape the business".

"He is highly regarded by the investment market and his vast knowledge and experience within the listed-property sector will be of huge benefit to NPT."

Mr Reid starts with NPT in early December.

The company's website said in March the 6.293ha Hastings distribution centre, one of several large holdings, had a current market value of $27.225 million.