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


Calan Completes $12.825 Million Sale

Calan Completes $12.825 Million Sale

Statement made by Miles Wentworth, Chief Executive Officer, Calan Healthcare Properties Limited

Calan Healthcare Properties Trust (NZX Code: CHP) today announced that the $12.825 million sale of what is known as the Takapuna site on the corner of Shakespeare and Taharoto Roads on Auckland's North Shore to Metlifecare Limited (NZX: MET) has now been declared unconditional. With the sale now unconditional, $8.5 million of the $12.825 million is payable. The balance of $4.325 million, which attracts interest at the rate of 6.5% per annum, is payable over a maximum period of 4 years. The deferred settlement amount will be fully secured.

To this point, the $12.825 million has been a non-income producing asset, and it has had the effect of suppressing the Trust’s earnings and distributions. This sale will deliver a significant increase to our earnings stream.

The sale value represents approximately 6% of the Trust’s total assets and is a significant step forward in making our portfolio fully yielding.

Over the past 18 months the Trust has been aggressively pursuing a strategy of converting non yielding assets into yielding assets.

The sale proceeds will be used to retire debt.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>


Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>


Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>