close
MENU
Hot Topic EARNINGS
Hot Topic EARNINGS
Investment
3 mins to read

Kiwi Property banks on Ikea's magnetic appeal, recycles assets

Listed property group says it will realise $115m for its retail land sales at Drury, as retail season heats up with Auckland's first Ikea store.

New pedestrian bridge opens to Ikea.

Key points
  • Net rental income: up 7.0% to $102m.
  • Profit: down 77.3% at $9.8m.
  • Main takeaway: Retail investor looks to asset recycling, and is banking on Ikea to ramp up foot traffic into its Sylvia Park precinct.

© All content copyright NBR. Do not reproduce, even if you have a paid subscription.


The walkway linking Sylvia Park to Ikea is likely to be a vital artery to Kiwi Property's retail ambitions as the summer sales season kicks off.

The giant Swedish home furnishing warehouse is scheduled to open its

Want to read more? It's easy.

Choose your subscription

Already have an account? Login

Smartphone Only Subscription

NZ$29.95 / monthly

Monthly Premium Online Subscription

NZ$49.95 / monthly

Smartphone Only Annual Subscription

NZ$299.00 / yearly

Yearly Premium Online Subscription

NZ$499.00 / yearly

Premium Group Membership 10 Users

NZ$385+GST / monthly

$38.5 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$660+GST / monthly

$33 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1375+GST / monthly

$27.5 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$2100+GST / monthly

$21 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$999.00 / yearly

Individual
Group membership
NBR Marketplace

Student

Exclusive FREE offer for uni students studying at a New Zealand university (valued at $499).
Brent Melville Mon, 24 Nov 2025
Contact the Writer: bmelville@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.

Free News Alerts

Sign up to get the latest stories and insights delivered to your inbox – free, every day.

I’m already subscribed/joined

Free News Alerts

Sign up to get the latest stories and insights delivered to your inbox – free, every day.

I’m already subscribed/joined
Key points
  • Net rental income: up 7.0% to $102m.
  • Profit: down 77.3% at $9.8m.
  • Main takeaway: Retail investor looks to asset recycling, and is banking on Ikea to ramp up foot traffic into its Sylvia Park precinct.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Kiwi Property banks on Ikea's magnetic appeal, recycles assets
Investment,Property,
111983
true