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

 


Macquarie Goodman Sells IBM Centre

NZX Release – Macquarie Goodman Property Trust


Macquarie Goodman Sells IBM Centre for $24.5 million

Macquarie Goodman (NZ) Limited (“MGNZ”), the manager of Macquarie Goodman Property Trust (“MGP”), is pleased to announce it has an unconditional contract to sell the IBM Centre for $24.5 million to ING Property Trust.

The $24.5 million gross sale price, with an expected net gain on realisation of $0.8 million, represents an initial yield of 8.4%.

John Dakin, Chief Executive Officer of MGNZ, said “This is a great result for the Trust with active management adding considerable value to this asset over the last year with new leases to IBM and Boffa Miskell. The disposal of non-core assets remains part of our strategy for MGP.”

The property is presently 97% occupied and will have a vendor underwrite on 388 sqm of vacant office space for a period of two years.

The expected settlement date is 15 December 2006.

On settlement, the balance of the sale proceeds will be utilised to reduce MGP’s total debt, providing funding for future opportunities.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news