The story
1990s
Kiwi Property was established in 1992 as the Kiwi Income Property Trust as a property trust by Ross Green and Richard Didsbury, and listed on the New Zealand Exchange in 1993 under the ticker code of KIP.
Kiwi Income Property Trust acquired New Zealand Land Limited in 1994; which held a total portfolio of nine properties.
In 1995, the business purchased 11.8 hectares of land in a 'brown zone' area, Mt. Wellington, for $9.75 million and spent a further $20 million in 1999 to acquire a neighbouring 9.1 hectare site.
Kiwi Income Property Trust divested a 50% shareholding in its management company to Lendlease in 1998.
2000s
In 2001, a strategic move led the trust to acquire Kiwi Development Trust, the developers and managers of the Royal & Sun Alliance Building, which is now known as the Vero Centre.
In 2002, Colonial First State acquired a 100% shareholding in the management company of Kiwi Income Property Trust, making it a wholly owned subsidiary.
The Sylvia Park Shopping Centre was complete in 2007.
2010s
Kiwi Income Property Trust had two Christchurch assets, both of which were heavily impacted by the 2011 Christchurch earthquake, resulting in the seismic remediation of the Northlands Shopping Centre and demolition of the PricewaterhouseCoopers Tower.
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Kiwi Income developed ASB North Wharf, the New Zealand headquarters for ASB Bank, with Fletcher Construction completing the project in 2013.
In 2013 a consortium of investors purchased all Kiwi Income shares from Colonial First State leading to a successful vote on 5 December 2014 to rebrand the organisation as Kiwi Property Group, register it as a New Zealand company (rather than a trust) and change its NZX ticker code to NZX: KPG.
In September 2015, Kiwi Property announced the purchase of Westgate Lifestyle, a shopping complex located in Westgate for $82.5 million. It was also reported that they entered into a joint-venture with Tainui Group Holdings to own and manage 50% of The Base in Hamilton for $192.5 Million.
In October 2017 a deal was signed by Kiwi Property and Meridian Energy to install hundreds of roof top solar panels to harness renewable energy at four of its shopping malls namely Auckland's LynnMall, Hamilton's The Base, Palmerston North's The Plaza and Christchurch's Northlands.
Kiwi Property sold the Majestic Centre in Wellington to Investec Property for $123.2 million in November 2017 and North City Shopping Centre in Wellington to a private investor for $100 million in April 2018 as part of its capital recycling programme.
In 2019, the company opened ANZ Raranga, the first office building at Sylvia Park marking an important milestone in the site's mixed-use evolution. ANZ and IAG were anchor tenants of the 10,000 square metre, 10-level tower.
2020s
In October 2020 Kiwi Property opened the $277 million galleria level expansion at Sylvia Park, featuring an additional 20,000 square metres of retail space, 50 new stores and The Terrace dining precinct.
Almost a year later, in September 2021, the company began construction of Resido, a 295 apartment build-to-rent development on the northern border of Sylvia Park. The move signalled Kiwi Property's first foray into residential accommodation and according to CEO, Clive Mackenzie, was intended to diversify its asset base, increase asset values and attract more people to the site. Resido was opened by New Zealand Prime Minister, Christopher Luxon, on 11 June 2024.
Kiwi Property completed the sale of Northlands Shopping Centre to Mackersy Property for $151 million in November 2022 and in May 2023, the company divested the Westage Lifestyle Shopping Centre.
In March 2023, Kiwi Property opened 3 Te Kehu Way, a $63 million low rise office and medical office, anchored by Geneva Finance and ASB.
From Wikipedia’s article on Kiwi Property Group, shared under CC BY-SA 4.0.5