Financial Information
Facts on the Investment
The Hub Hornby consists of three sites, the main centre, The Hub, at 418 Main South Road, Christchurch. The number of car parks located across the property is 798, with an additional 212 leased car parks available and a bus interchange adjacent.
72Total number of tenancies*
95.8%Percentage of total Occupied space*
23,515sqmTotal lettable Area
* as at latest balance date 28 February 2025
Key Information
- The land area comprises Main Mall 3.3987 hectares
- Registered valuation 28 February 2025 $126,500,000.
- The total lettable area is 23,515 square metres.
- The total number of shops available to lease are 82.
- The percentage occupancy as at 28 February 2025 is 95.8%.
- The number of shareholders 250.
- Total Shares Issued 69,000,000.
Earthquake strengthening, the latest Detailed Seismic Report [DSA] identifies that the complex has achieved a minimum NBS rating of 67%. Most parts of the complex exceed this rating.
Rentals received
| Year 2021 | Year 2022 | Year 2023 | Year 2024 | Year 2025 |
|---|---|---|---|---|
| $9,259,886 | $9,624,413 | $9,994,988 | $9,941,557 | $10,272,179 |
The 2022 and 2021 years are after the deduction of the generous Covid relief concessions.
The policy of the Board, subject to meeting the banking covenants, capital and legal requirements is to distribute 70% of its Operating Income.
| Year 2020 | Year 2021 | Year 2022 | Year 2023 | Year 2024 | |
|---|---|---|---|---|---|
| Operating Income | $4,904,604 | $5,493,903 | $5,901,280 | $4,318,974 | $2,481,005 |
| Cents per Share | 8.90 cents | 9.97 cents | 8.86 cents** | 6.27 cents | 3.36 cents |
| % Increase | 29.90% | 29.90% | (11.13%) | (29.23%) | (46.41%) |
**This calculation takes into account the conversion of the Notes to Shares in September 2021.
Dividends, the following are the distributions in recent years
| Year 2020 | Year 2021 | Year 2022 | Year 2023 | Year 2024 |
|---|---|---|---|---|
| $2,205,031 | $2,342,846 | $3,014,693 | $3,531,497 | $1,981,084 |
Gross Dividend rates to 31 March per share, RWT Tax deducted:
| Year 2024 | Year 2025 |
|---|---|
| 2.69 cents | 4.00 cents |
An decrease of