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NPT To Acquire The Warehouse Building at Eastgate
PRESS STATEMENT
For immediate release
28 January
2001
“National Property To Acquire The Warehouse
Building at Eastgate”
The National Property Trust
advises that it has entered into a sale and purchase
agreement with Eldamos Investments Limited, a subsidiary
company of The Warehouse Ltd, to acquire The Warehouse
property at the Eastgate Shopping Centre for $9.135m.
The agreement is now unconditional and settlement will take place on 1 February 2002. A long term lease to The Warehouse Limited is in place.
The property, which is the largest The Warehouse retail store in the country, will be integrated into the adjoining shopping centre, which is currently being extensively redeveloped, and will boost the total retail area to approximately 30,500 square metres. On completion, Eastgate will have a total value of more than $70 million.
For further information contact:
Paul
Dallimore
Executive Chairman
The National Property
Trust Limited
P O Box
4445
CHRISTCHURCH
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