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Calan extends sale deadline

Monday 31st May 2004

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Calan Healthcare Properties Trust has approved a request for a four week extension by privately owned Radius Health Group Ltd, who are looking to purchase the Artemis Medical Centre on Auckland's North Shore for $2.45 million plus GST.

The due date for the sale going unconditional is now June 30.

The conditional sale of Artemis was announced on May 12, 2004, and was subject to the purchasers due diligence, completing successful negotiations with a major tenant and gaining board approval.

The sale of Artemis is in line with Calan's stated strategy of exiting non revenue producing assets and tidying up our investment portfolio.

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