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

 


Settlement of 50% interest in 205 Queen Street, Auckland

Settlement of 50% interest in 205 Queen Street, Auckland

Kiwi Income Property Trust advises that it has settled the sale of the first 50% interest in its office complex at 205 Queen Street, Auckland.

As advised to the market on 23 October 2013, the Trust entered into a sale and purchase agreement with Auckland City Holdings Limited, a company associated with Brisbane-based Bloomberg Incorporation Limited, to divest an initial 50% interest in the building for $47.5 million, subject to Overseas Investment Office and ground lessor approvals. Those approvals have since been secured.

As part of the agreement, Auckland City Holdings Limited will also acquire the remaining 50% interest in the building, which is to be sold at the fair value attributed to the property by independent valuation in either March or September of each succeeding year, at the option of the purchaser, with an absolute obligation to purchase by no later than 31 March 2017.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news