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

 

NGC Building and hp house transactions settled

30 September 2004

NGC Building and hp house transactions settled

Kiwi Income Property Trust advised today that its sale of HP House in Viaduct Harbour Avenue, Auckland and its purchase of the NGC Building at 44 The Terrace in Wellington have both been settled.

The Trust entered into an unconditional agreement to purchase the NGC Building for $19.3 million on 20 May 2004. The Trust's sale of HP House for $25.8 million was declared unconditional on 3 June 2004.

Chief Executive of the Manager of the Trust, Angus McNaughton, said the transactions reflected the Trust's continuing focus on investing in assets that diversify and strengthen the Trust's tenant mix and income profile.

The NGC Building is located in Wellington's strongly performing CBD government precinct and is fully leased. Major tenants include NGC Holdings, Commerce Commission, Department of Corrections, Tertiary Education Commission and Energy Efficiency and Conservation Authority.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Dry: Beef + Lamb Launches Drought Resources

The resources include a fact sheet outlining strategies to manage and mitigate the effects of drought, coping with stress on the farm and advice on feed requirements and animal welfare during the dry period. More>>

ALSO:

InternetNZ: Net Neutrality Failure In US "Will Hurt All Users"

InternetNZ Chief Executive Jordan Carter has condemned the decision by the United States communications regulator to undo 2015 open Internet rules, warning that all Internet users will end up worse off as a result. More>>

ALSO:

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>