Investore Property Limited (NS)
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About Investore Property Limited (NS)
Investore (IPL) is a listed property company which owns NZ$641m of large format retail properties throughout New Zealand. Its 39-asset portfolio comprises mostly supermarkets with its key tenant General Distributors (operator of Countdown) accounting for 84% of contracted rent. IPL was formed from its demerger with NZX-listed Stride Property (SPG) in July 2016 and the associated transfer of 25 assets from SPG. IPL was listed on the NZX following its demerger and also purchased an additional portfolio of 14 assets from ASX-listed Shopping Centres Australasia (SCA) using proceeds from its IPO capital raising. IPL is externally managed by SIML, the property management arm of SPG.