St Laurence sells Master Builders site for $12.5m

Master Builders House was "revitalized" when bowling ally owner Bowland took over the lease in 2006 and launched 'The Lanes,' a licensed bowling venue just of the Courtney Place strip.

The sale reflected St Laurence's strategy of refurbishing and gaining solid tenants for properties before selling them, chairman Kevin Podmore said. The sale price was NZ$300,000 above the property's March valuation, he said.

St Laurence last month withdrew a prospectus and quit lending because of the risk of default. It also is seeking approval from debenture holders for an installment plan for repayments.

St Laurence Property and Finance is part of the group, but is not effected by the changes at the finance company.

By Jonathan Underhill

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:

February 25th Morning Report
Genesis completes NZ$100m Placement
MCY - Invests heavily in renewables; delivers strong performance
PFI Announces Interim Results
February 24th Morning Report
THL - FY26 Interim Results: underlying NPAT up 11%, 3cps dividend
FPH updates FY26 revenue and earnings guidance
February 23rd Morning Report
February 20th Morning Report
SCL - Chief Financial Officer Transition