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

 


Settlement of remaining 50% interest in 205 Queen

NZX RELEASE

3 June 2014

Settlement of remaining 50% interest in 205 Queen

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

As advised to the market on 6 May 2014, Auckland City Holdings Limited (ACHL) exercised its right to purchase the Trust’s remaining interest in the asset for a purchase price of $56.3 million, in line with the asset’s 31 March 2014 independent valuation.

In October 2013, the Trust entered into a sale and purchase agreement with ACHL under which ACHL acquired its initial 50% interest in the building for $47.5 million. That sale settled on 31 January 2014. As part of this agreement, ACHL was required to acquire the remaining 50% interest in the building on or before 31 March 2017.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Oil: 2017 Block Offer Petroleum Tender Launched

New Zealand is well-placed to take advantage of the economic benefits of oil and gas exploration, Energy and Resources Minister Judith Collins announced today at the launch of the 2017 Block Offer petroleum tender. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news