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Investore Property Limited (IPL.NZ)

NZSE - NZSE Delayed price. Currency in NZD
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1.0200-0.0100 (-0.97%)
At close: 05:00PM NZST

Investore Property Limited

Level 12
34 Shortland Street
Auckland 1010
New Zealand
64 9 912 2690
https://www.investoreproperty.co.nz

Sector(s)Real Estate
IndustryREIT - Retail
Full-time employees

Key executives

NameTitlePayExercisedYear born
Mr. Philip Littlewood B.Com., M.B.A.Chief Executive Officer of Stride Investment Management LimitedN/AN/AN/A
Ms. Jennifer Marie Whooley C.A.Chief Financial Officer of Stride Investment Management LimitedN/AN/AN/A
Sharyn Bramwell-RewetiSafety & Sustainability Manager of Stride Investment Management LimitedN/AN/AN/A
Amounts are as of , and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in NZD.

Description

Investore Property Limited (Investore) is a commercial property ownership business that has been established to invest in quality Large Format Retail property assets. Investore was established in October 2015 in connection with the acquisition of 19 Countdown supermarkets from Antipodean Supermarkets Limited and Antipodean Properties Limited. The transfer of six properties from Stride Property Limited (Stride) and Stride Holdings Limited to Investore took place between 29 April and 9 June 2016 by way of sale and purchase agreements for cash consideration equal to the most recently obtained independent valuation of the properties transferred (in each case, 31 March 2016). In June 2016, Investore entered into a sale and purchase agreement to acquire 14 Countdown supermarkets from Shopping Centres Australasia Property Group Trustee NZ Limited (the SCA Acquisition). Settlement of six properties occurred on 12 July 2016, with the other eight properties expected to settle in September 2016. Investore's investment strategy is focused on Large Format Retail property assets. Large Format Retail means a single-storey or low level property comprising retail shops and outlets and car parking areas with more than 50% of the property generally occupied by, and more than 50% of the rental generally provided by, a single major tenant or a limited number of major tenants under net leases. Investore believes that Large Format Retail assets have a specific, differentiating set of attributes that can provide a reliable income return to shareholders.

Corporate governance

Investore Property Limited’s ISS governance QualityScore as of 1 May 2024 is 9. The pillar scores are Audit: 9; Board: 9; Shareholder rights: 7; Compensation: 5.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.