Archive | Kirkcaldie & Stains

Cushings lift Kirkcaldie & Stains stake to 17%

Published 1 July 2011

The Cushing family has lifted its stake in listed Wellington department store company Kirkcaldie & Stains Ltd from 12.62% to 17.08%.

David Cushing, his father Sir Selwyn Cushing and family company H&G Ltd disclosed the increase today. They acquired the bulk of the shares (400,000) yesterday at $2.56/share. All 3 acquisitions were made in on-market trades.  

Want to comment? Go to the forum.

 

Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.

Continue Reading

Kirkcaldie & Stains to redevelop & strengthen Harbour City Centre

Published 24 December 2010

Kirkcaldie & Stains Ltd said yesterday it would start work in January on $5.5 million of redevelopment & earthquake strengthening at the Harbour City Centre building on Lambton Quay, Wellington.

The company has 15 years to complete the earthquake strengthening in the timeframe set by the Wellington City Council, but chose to undertake the works in conjunction with Country Road’s refurbishment. Completion is due in November. Country Road, the anchor tenant, has signed a long-term lease agreement and plans to open a flagship store.

Kirkcaldie & Stains chairman Denis Thom said the company had been working on options to strengthen the building for more than 3 years: “The works will bring the building up to the current code for new buildings while allowing for the retention of its beautiful heritage features.”

As a consequence of the refurbishment, relevant borrowings & loss of tenant income during the works, Kirkcaldie & Stains has forecast consolidated pretax profit of $500,000 for the August 2011 year, $874,000 lower than the 2010 result.

Want to comment? Go to the forum.

 

Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux