A huge result for one of the largest sharemarket listed landlords on the NZX

Kiwi Property Group has announced a14 percent rise in bottom-line profit .... to 224.3 million for the year to March 31.

It's partly due to an expansion of Auckland's Sylvia Park shopping centre, and revaluations.

Herald Property Editor Anne Gibson says the Group is doing really well.

She says it's a great result from an outfit that has a big holding in a lot of the office sector and the retail sector as well.

The company also has a deal with Ikea, which is buying land to open beside Sylvia Park.