New Zealand Rural Land Co. Ltd.
0.45
EUR
+0.00
(+0.45%)
ISIN
NZNZLE0001S2
Return %
Stock
S&P 500
1Y
-6.67
14.20
3Y
3.23
81.12
5Y
- -
68.34
Capital Structure
NZD
•
in mil. unless spec.Working Capital
NZD
•
in mil. unless spec.Growth Rates
NZD
•
in mil. unless spec.Semi-annual Revenue
NZD
•
in mil. unless spec.Semi-annual Earnings Per Share
NZD
•
in mil. unless spec.Semi-annual Dividends Per Share
NZD
•
in mil. unless spec.Company Description
- CEO
- Christopher Grant Swasbrook
- Full Time Employees
- - -
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- 50 Customhouse Quay Auckland AU New Zealand 6011
- IPO Date
- Dec 18, 2020
- Website
- nzrlc.co.nz
- Similar Companies
- Business
- New Zealand Rural Land Company Limited (NZL.NZ) is a New Zealand-based real estate investment company that acquires, owns and leases high-quality rural land to experienced tenants under long-term leases, focusing on sectors including dairy, forestry, horticulture, viticulture, poultry and green energy without engaging in on-farm operations. The company, founded in 2020 and headquartered in Wellington, controls a portfolio of approximately 17,077 hectares of fully tenanted farmland and forestry properties across regions such as Canterbury, Hawke’s Bay and Manawatu-Whanganui, generating returns through CPI-linked rental income and land value appreciation. Its core offerings encompass leasing prime dairy farmland to leading operators; forestry estates totaling around 2,307 hectares in the North Island to tenants including New Zealand Forest Leasing and MM Forests; horticultural assets such as apple orchards and kiwifruit properties leased to Kiwi Crunch with yields averaging 7.8% and terms up to 30 years; and selective opportunities in sheep and beef, viticulture and emerging green energy applications, supported by a rigorous tenant selection process and sustainability programme mandating low-carbon practices. In recent developments, NZL sold a 25% equity interest in its portfolio to Roc Partners in February 2024 for NZ$44.2 million, enabling repayment of convertible note debt, funding of orchard and additional forestry acquisitions totaling 2,606 hectares for NZ$34.9 million, and co-investment arrangements for future growth; restructured its debt facilities in December 2024 into a NZ$140 million syndicated agreement with Rabobank and Bank of China, lowering the weighted average cost of debt and gearing to 29.8%; implemented CPI-linked rental increases of 18.6% on 37.3% of the portfolio in mid-2024 and further hikes through 2025 boosting total lease value by 7.6%; acquired a 305-hectare Canterbury dairy farm in March 2025 for NZ$15.5 million via asset swap, enhancing annual rental income by NZ$290,000; and maintained 100% occupancy with a weighted average lease term of 12.3 years across nine tenants while reinstating dividends at 4.00 cents per share for FY24 and continuing an on-market share buyback programme. NZL operates exclusively in New Zealand, managed by New Zealand Rural Land Management Limited Partnership, with 75% ownership of the portfolio limited partnership alongside Roc Partners following the 2024 transaction.