DNZ sells Hamilton property for $12.4 million

DNZ Property Fund, the listed property investor, sold an industrial site in Hamilton for $12.4 million, with the funds going into its Westgate Mall project.

The Auckland based company has an unconditional agreement to sell its Te Rapa Road industrial site for book value to an undisclosed buyer, it said in a statement. The sale should settle in January next year

The funds will be used for DNZ's $155 million Westgate Mall project, which the property investor has previously said will be paid for through existing bank facilities and the sale of non-core assets. Since announcing its divestment programme, DNZ has agreed sales with a total value of $25.3 million, it said.

Shares of the company fell 0.5 percent to $1.87 and have gained 23 percent since the start of the year.

BusinessDesk.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:

CVT - Comvita Achieves Minimum Capital Raise Requirement
Devon Funds Morning Note - 04 May 2026
MEL - Meridian joins global ranks of sustainable companies
May 5th Morning Report
ATM - a2MC recalls small volume of a2 Platinum USA label
CEN - Contact Chair to retire this year, new Chair appointed
May 1st Morning Report
GTK - Gentrack's Veovo Acquires Dubai Technology Partners
SML - Additional information following Bright Dairy announcement
April 30th Morning Report