30 Sep Stride letter to Shareholders
Stride letter to Shareholders 30/09/2015
DNZ Property Fund Limited (DNZ) – Change of Name to Stride Property Limited (STR)
Stride has supplied a letter to Shareholders and a copy of the letter can be found in the attachment below:
For Further Information Please Contact:
Tim Storey, Chairman, Stride Property Limited
Mobile: 021 633 089 – Email: [email protected]
Peter Alexander, Chief Executive, Stride Property Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: [email protected]
Jennifer Whooley, Chief Financial Officer, Stride Property Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: [email protected]
Stride Property Limited (‘Stride’), formerly known as DNZ Property Fund Limited, owns one of New Zealand’s largest diversified investment property portfolios with $890.9 million (as at 31 August 2015) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 31 August 2015, Stride owned 42 properties with 294 tenants, a weighted average lease term (WALT) of 5.3 years and an occupancy rate of 99.6% over a net lettable area of 338,504m².
Stride is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. Stride is also the manager of Diversified NZ Property Fund Limited, a $118.4 million (as at 31 March 2015) commercial property fund.
Stride’s top 10 tenants as at 31 August 2015: Bunnings, Progressive Enterprises (Countdown), Foodstuffs (PAK’nSAVE & New World), ASB, NZ Government, The Warehouse, Fletcher Building, Westpac, Meridian and Lion. These 10 tenants represent 50% of Stride’s total contract rental.