Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

FFNZ Sells Agriculture House

Federated Farmers of New Zealand (Inc) President Alistair Polson today announced the sale of Agriculture House; the Federation's Wellington headquarters.

"The decision to sell Agriculture House was driven by three key drivers; it is not the Federation’s core business to own buildings, the responsibility of the Federation's National Board to provide good accommodation for staff and the need manage assets prudently," said Mr Polson.

"Federated Farmers have retained naming rights for Agriculture House and the sale agreement provides for a leaseback of the building for six years with provision to sublet.

The sale facilitated by Jones Lang LaSalle provides a range of options for office accommodation in Wellington and the investment of the Federation’s assets.

"The building’s capital value represents a sizeable proportion of the Federation’s assets. Prudent management to avoid risks suggests that there should be a better spread of the Federation’s ongoing investments," Mr Polson concluded.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: