CAPITAL PROPERTIES NEW ZEALAND LIMITED

CAPITAL PROPERTIES NEW ZEALAND LIMITED

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Company Overview
Capital Properties New Zealand Limited is a privately held company which operates as a long-term investor in commercial properties in New Zealand. The company was established in November of 1998 to acquire and manage a portfolio of nine commercial office buildings predominantly located in the Thorndon area of Wellington. Its registered business office is located in Wellington, New Zealand.
The company’s property portfolio is comprised of government offices, private sector offices, and car parks, as well as retail and industrial properties. It has an annual estimated operating revenue/turnover of more than $40 million.
Capital Properties New Zealand Limited operates as one of the subsidiary companies of AMP Property Portfolio Investments Limited, one of the largest property investors in New Zealand.
Business Summary
The Company is a long-term investor in commercial property.
Description and history
Capital Properties New Zealand Limited (CNZ) is a long-term investor in commercial property and is listed on New Zealand Exchange Limited (NZX) on June 29, 2000.

The Group is incorporated in New Zealand and is registered under the New Zealand Companies Act 1993 and the Capital Notes are listed on the New Zealand Stock Exchange. The Groups principal activity is property investment and management.

The ultimate parent of Capital Properties New Zealand Limited is AMP Capital Property Portfolio Limited (‘APPL’) whose parent is AMP Capital Property Portfolio (‘APP’). APP is managed by AMP Capital Investors (New Zealand) Limited.

History

CNZ was established in November 1998 specifically to acquire and manage a portfolio of nine commercial office buildings predominantly located in the Thorndon area of Wellington, New Zealand. These nine buildings were purchased from the Government through Government Property Services Limited and were funded by the issue of shares to the Crown and bank loans from ANZ Banking Group Limited. The total value of the portfolio at the date of the offer was approximately $180 million.

CNZ shares were listed on the New Zealand Stock Exchange on 29 June 2000 after the Crown offered 100% of the shares of CNZ in an initial public offering to investors. The shares were offered to investors on an instalment receipt basis whereby NZ$0.50 was payable on application and NZ$0.50 was payable on 30 June 2000. This was designed to give investors an enhanced yield for the first 20 months.

In December 1999, CNZ made a successful takeover offer for Shortland Properties Limited, a listed property investor with a portfolio made up of predominantly CBD office buildings in Auckland and Wellington.

The enlarged company now has a portfolio made up of Auckland and Wellington office buildings and carparks, and a number of small industrial investments.

In October 2001 CNZ purchased Novell House for $31.3 million. The CNZ portfolio now totals around $400 million.

Established to acquire and manage a portfolio of nine commercial office buildings predominantly located in the Thorndon area of Wellington

Business Line
Operates as a long-term investor in commercial properties in New Zealand
Subsidiary
CAPITAL PROPERTIES (KINGSWAY) LIMITED
Advisor
ERNST & YOUNG
IPO date
3/15/2002
US SIC Code
6798
Company Address
Pwc Tower, Level 11
113-119, The Terrace
City province or state postal code
WELLINGTON
Phone: +64 44942200
Fax: +64 44942127
Country address: NEW ZEALAND
Website url: www.cpnz.co.nz