Scoop has an Ethical Paywall
Auckland One Sells Newmarket To Westfield
Friday 30 July 2004
Newmarket
Auckland One today announced that it has completed the sale of its half share in all its Newmarket properties to its partner in the venture, Westfield.
“This completes the rationalisation of our properties in Australia and New Zealand” says Michelle McKellar, Chief Executive Officer Property of Intro International Ltd. “The proceeds of this rationalisation will be used to focus on investment in Asia”, she says.
Westfield spokesperson, John Widdup thanked Auckland One for its participation in the joint venture over the past two years.
“While Denis Jen has priorities in Asia, Westfield has priorities in redeveloping Newmarket into an inner city development of international standing. This agreement reached between the partners facilitates both parties objectives”.
Westfield intends to proceed with the development of the properties it now owns in the southern part of Newmarket.
ENDS
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
Asia Pacific AML: NZ’s Financial Crime Gap - Beyond The 'Number 8 Wire' Mentality
Westpac New Zealand: Kiwi Households Adapting Despite Widespread Cost Pressure Concerns, Westpac Survey Shows
University of Auckland: Kids’ Screen Use Linked To Long-Term Deficits In Self-Control And Attention
University of Auckland: Research To Address Equity In STEM For Māori, Pacific And Female Students
