St Laurence sells Wellington building

St Laurence Property & Finance sold Eagle Technology House in Wellington for $23 million helping raise funds as it repays debenture stock. 

The property investor repaid $7.3 million of debentures due April 29, executive chairman Kevin Podmore said. The group was “pleased with the price achieved in the current market” for the 11 floor building in Wellington’s Victoria Street, he said.    

St Laurence said the combined value of its investment and development/joint venture property portfolio fell about 13% in the 12 months through March. The investment portfolio declined by 10.2% while the development portfolio climbed 18.5%, it said.    

St Laurence won appproval from debenture and note holders in December for its recapitalization plan, under which Podmore put up some of his own assets and the company agreed to a moratorium, with quarterly payments of capital. 

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance