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Comprehensive analysis of NZX-listed property portfolios. Tracking 116 properties across 11 REITs and property companies, with $6.7B in total book value.
GNZHighbrook Business Park116 geocoded properties across NZ. Circle size indicates book value. Click for details.
Herfindahl-Hirschman Index measures tenant diversification. HHI > 2,500 indicates high concentration; > 5,000 indicates very high concentration.
Portfolio value concentration by city. REITs with >60% in a single city have elevated geographic risk.
Year-on-year portfolio book value changes and implied net operating income derived from average cap rates.
NZS 1170.5 seismic zones, GNS Science liquefaction data, NIWA flood hazards, MfE sea level rise projections. Based on published NZ government hazard assessments.
62 properties with WALE data — shorter WALE = higher near-term re-leasing risk
Year-over-year property portfolio changes across all REITs
Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
GNZSavill LinkGNZRoma Road EstateGNZM20 Business Park
ARG8-14 Willis Street / 360 Lambton Quay SPG |
| Auckland |
| industrial |
| $726M |
| - |
| - |
| SPL Office Portfolio | SPG | Auckland | office | $705M | - | 6.9yr |
| Vero Centre |  KPG | Wellington | office | $458M | - | 4.1yr |
| Diversified NZ Property Trust Portfolio | SPG | Auckland | mixed | $414M | - | - |
| SPL Town Centre Portfolio | SPG | Auckland | retail | $284M | - | 3.8yr |
| ASB North Wharf | KPG | Auckland | office | $212M | 6.3% | 4.1yr |
| The Base Te Awa | KPG | Hamilton | mixed | $205M | 7.1% | 4.1yr |
| LynnMall | KPG | Auckland | mixed | $202M | 7.5% | 4.1yr |
| 8-14 Willis Street / 360 Lambton Quay | ARG | Wellington | office | $150M | 5.3% | - |
| The Aurora Centre | KPG | Auckland | office | $146M | 6.5% | 4.1yr |
| The Plaza | KPG | Palmerston North | retail | $112M | 8.9% | 4.1yr |
| Munroe Lane |  APL | Auckland | office | $107M | 6.1% | 9.0yr |
| Mt Richmond Road | ARG | Auckland | industrial | $76M | - | - |
| 11 |
| $3.1B |
| 7.3% |
| 4.1yr |
| 96% |
mixedofficeretailotherresidential |
| 2024 |
| ARG | 14 | $226M | 5.3% | 5.6yr | 89% | officeindustrialotherretailhealthcare | 2021 |
| APL | 1 | $107M | 6.1% | 9.0yr | 65% | office | 2025 |
 PFI | 4 | $41M | - | 5.1yr | 100% | industrial | 2024 |
 IPL | 5 | $26M | - | 7.1yr | 99% | retail | 2024 |
 CDI | 3 | $0K | - | - | - | industrialretail | 2025 |
| GNZ | 14 | $0K | 5.8% | 6.7yr | 98% | logistics | 2025 |
 VHP | 37 | $0K | - | 18.9yr | 98% | healthcare | 2025 |
 PCT | 13 | $0K | - | 6.0yr | 99% | mixedofficeretail | 2023 |
| GNZ | 714 | 7% | 21% | 14 | Low |
| PCT | 473 | 8% | 23% | 8 | Low |
| ARG | 357 | 7% | 21% | 7 | Low |
| KPG | 248 | 9% | 27% | 3 | Low |
| VHP | 110 | 5% | 14% | 9 | Low |
| SPG | 102 | 7% | 14% | 2 | Low |
100% |
| 100% |
| 3 |
| Very High |
| PFI | Auckland | 100% | 100% | 1 | Very High |
| KPG | Auckland | 74% | 96% | 4 | High |
| ARG | Wellington | 66% | 100% | 2 | High |
| APL |
| $107M |
| $181M |
| -40.8% |
| 6.1% |
| $7M |
| PFI | $41M | $210M | -80.7% | - | - |
| IPL | $26M | $28M | -7.1% | - | - |
| VHP | $0K | $299M | -100.0% | - | - |
| PCT | $0K | $3.7B | -100.0% | - | - |
| CDI | $0K | $108M | -100.0% | - | - |
| GNZ | $0K | $300M | -100.0% | 5.8% | - |
| Total | $6.7B | $12.0B | -44.4% | $247M |
Implied NOI = Avg Cap Rate × Portfolio Book Value. This approximates annual rental earnings power. Actual NOI may differ due to vacancies, incentives, and operating costs.
Top 10 by composite climate/natural hazard risk score
| Property | Owner | City | Score | Seismic | Flood | Liquefaction | Sea Level | Book Value |
|---|---|---|---|---|---|---|---|---|
| 68 Saint Asaph Street | VHP | Christchurch | 72 | Zone 2 | medium | high | high | - |
| Woolworths Rangiora | IPL | Christchurch | 72 | Zone 2 | medium | high | high | - |
| Woolworths Waimakariri Junction | IPL | Christchurch | 72 | Zone 2 | medium | high | high | $26M |
| Prestons Park Retail Shops | CDI | Christchurch | 72 | Zone 2 | medium | high | high | - |
| Stonebrook Retail Shops | CDI | Christchurch | 72 | Zone 2 | medium | high | high | - |
| Kawarau Park Health Hub | VHP | Christchurch | 72 | Zone 2 | medium | high | high | - |
| 215 Lambton Quay | SPG | Wellington | 63 | Zone 4 | low | medium | medium | - |
| 20 Customhouse Quay | SPG | Wellington | 63 | Zone 4 | low | medium | medium | - |
| 22 The Terrace | SPG | Wellington | 63 | Zone 4 | low | medium | medium | - |
| Vero Centre | KPG | Wellington | 63 | Zone 4 | low | medium | medium | $458M |
Year-over-year book value decreases
| 0 |
| 2025 | GNZ | Westney Industry ParkThe Gate Industry ParkFavona Road Estate+8 more | Mt RoskillŌtāhuhu | +9 |
| 2025 | VHP | AscotAscot CarparkWakefield Hospital Level 5 Expansion+7 more | Ascot Carpark (Right of Use)Ascot Hospital & ClinicsPlayford Health Hub - Retail & Carpark+6 more | +1 |
| 2024 | APL | — | 22 Stoddard Road | -1 |
| 2024 | CDI | Commercial warehousing at WiriRetail shops at Prestons ParkRetail shops at Stonebrook | Kewa RoadDominion RoadPrestons Park+1 more | -1 |
| 2024 | IPL | Woolworths Hamilton (Anglesea Street)Woolworths RangioraWoolworths Waimakariri Junction+2 more | Hakarau Road, KaiapoiAverill Street, PapakuraCountdown Morrinsville+2 more | 0 |
| 2024 | KPG | The Base Te AwaDrury Development LandResido | Development landDrury EastThe Base+3 more | -3 |
| 2024 | PFI | Spedding Road30-32 Bowden Road78 Springs Road+1 more | 670-680 Rosebank Road44 Noel Burnside RoadT&G Global Hawkes Bay+4 more | -3 |
| 2024 | SPG | 215 Lambton Quay20 Customhouse Quay34 Airpark Drive+3 more | 55 Lady Elizabeth LaneQueensgate Shopping CentreRemarkables Park+4 more | -1 |
| 2024 | VHP | Ascot Carpark (Right of Use)Ascot Hospital & ClinicsEndoscopy Auckland+33 more | RDX developmentEndoscopy Auckland expansionMacarthur Health Precinct - Cancer Centre (Stage 1)+2 more | +31 |
| 2023 | APL | 22 Stoddard Road | Stoddard RoadKamoEastgate Shopping Centre | -2 |
| 2023 | GNZ | Roma Road EstateSavill LinkHighbrook Business Park+2 more | Mainfreight supersite facilityNZ Post parcel processing facilityVilla Maria Winery adjacent land+6 more | -4 |
| 2023 | IPL | Hakarau Road, KaiapoiAverill Street, PapakuraCountdown Morrinsville+2 more | Petone Countdown4 Carr RoadWaimak Junction | +2 |
| 2023 | KPG | Development landDrury East | NorthlandsDrury | 0 |
| 2023 | PCT | Commercial Bay117 Pakenham StreetAON Centre+3 more | AON Centre - AucklandNo.3 The TerraceFreyberg Building+11 more | -8 |
| 2023 | SPG | 55 Lady Elizabeth LaneSPL Town Centre PortfolioQueensgate Shopping Centre+11 more | 80 Greys Avenue25 Teed Street7-9 Fanshawe Street+4 more | +7 |
| 2023 | VHP | RDX developmentEndoscopy Auckland expansionMacarthur Health Precinct - Cancer Centre (Stage 1)+2 more | Ormiston HospitalGrace HospitalWakefield Hospital+9 more | -7 |
| 2022 | APL | Munroe Lane | 6-8 Munroe Lane | 0 |
| 2022 | CDI | Havelock North | Hawkes Bay Land HoldingsStonebrook | -1 |
| 2022 | GNZ | Mainfreight supersite facilityNZ Post parcel processing facilityVilla Maria Winery adjacent land+6 more | T&G Global facility7-8 Monahan Road | +7 |
| 2022 | IPL | Petone Countdown4 Carr Road | Countdown PetoneCountdown PapakuraJohnsonville Countdown+1 more | -2 |
| 2022 | KPG | DrurySylvia Park Build-to-Rent3 Te Kehu Way+1 more | Sylvia Park LifestyleDrury Development LandSylvia Park | +1 |
| 2022 | PCT | AON Centre - AucklandNo.3 The TerraceWynyard Quarter Stage 3+12 more | Aon CentreOne Queen Street (Deloitte Centre)40 Bowen Street+7 more | +5 |
| 2022 | PFI | 670-680 Rosebank Road44 Noel Burnside RoadT&G Global Hawkes Bay+4 more | 306 Neilson Street12 Hautu DriveCarlaw Park+2 more | +2 |
| 2022 | SPG | 80 Greys Avenue25 Teed Street7-9 Fanshawe Street+4 more | Countdown PetoneWaimak Junction Development Land | +5 |
| 2022 | VHP | Ormiston HospitalPlayford Health HubEpworth Eastern Hospital+6 more | Epworth CamberwellNorth West Private HospitalMayo Private Hospital+5 more | +1 |
| 2021 | APL | Kamo | — | +1 |
| 2021 | ARG | 8-14 Willis Street / 360 Lambton QuayMt Richmond Road960 Great South Road+7 more | 90-104 Springs Road, East Tamaki80 Springs Road, East Tamaki211 Albany Highway, Albany+14 more | -7 |
| 2021 | IPL | Countdown PetoneCountdown PapakuraWaimak Junction+2 more | Mt Wellington Shopping CentreBay Central Shopping CentreBunnings Carr Road+4 more | -2 |