News & Opinion

Property Line Directors Letter

28 February 2018

Property Line Directors Letter

 

Firstly, I hope you’ve had a great start to the year and are looking forward to a prosperous 2018.

As 2017 came to a close, I took time over the Christmas and New Year break to reflect on the massive year that was. The PMG team demonstrated unwavering commitment, proactivity, hard-work and loyalty for our investors and stakeholders, living up to our vision of being the most trusted property and funds managers in the country.

Thanks to our team, we had many exciting highlights in 2017, as you will see below:

New team members
As the Group continues to grow, we have been fortunate to welcome on board some excellent new talent over 2017.  You can meet the new team here and our new Independent Director, Wayne Beilby here.

Property Management
The property management team have delivered some outstanding results over the past 12 months.  Recent leasing highlights include achieving:

  • 100% occupancy in PPF’s properties at 114 Dominion Road and 6 Alderman Drive. 
  • 100% occupancy in PMG Direct Office Fund’s 5 Short Street property. 
  • Welcoming Subway to a high-profile site on the ground floor of 117 Willow Street, Tauranga. 

Compliance
We are currently working across our portfolio of managed properties to ensure they have an Asbestos Management Plan in place by 4 April 2018.  This requirement is part of the new Health and Safety at Work (Asbestos) Regulations 2016.  Please refer to the corresponding article here for more information.

Annual Meetings
We enjoy catching up with our investors at the annual general meetings for each fund. Please refer to the dates below.  We’d love to see you there.

2018
Looking to 2018, we don’t intend to rest on our laurels. We are focused on improving the quality of our funds through refurbishment, redevelopment and now that we have achieved sufficient scale -  the divestment and strategic acquisition of several properties. We will also be launching at least one new fund, continuing our strategy of offering a range of property funds, delivering greater diversification and liquidity for investors.

Our underlying purpose is to create value for people in property.

I look forward to catching up with many of you throughout the year – my door is always open if you’d like to drop in for a chat.

 

Scott McKenzie

CEO & Director