Thursday 19th November 2020 |
Text too small? |
Stride Property Limited (SPL) is pleased to announce that it has entered into an unconditional agreement to acquire an office building at 215 Lambton Quay, Wellington, known as Grant Thornton House, for a purchase price of $84.5 million. The initial passing yield on acquisition is 6.0%, and the property has a WALT of 3.4 years. Settlement is expected to occur on 30 November 2020.
Grant Thornton House is a 16 level, grade A office building in the heart of Wellington's CBD, with ground floor retail fronting on to Lambton Quay. The building comprises 10,934 sqm of lettable area and has a seismic rating of 100% of New Building Standard, making it an attractive location for tenants in the Wellington market.
This acquisition builds on SPL’s acquisition of 34 Shortland Street, Auckland, announced on 31 August 2020, and, following the settlement of Grant Thornton House, SPL’s office portfolio will increase to approximately 30% of SPL’s look-through holdings, including directly held investment properties and holdings in Stride’s investment management products.
Stride Property Group will provide an update on its portfolio strategy and performance (including direct and look-through weighted portfolio holdings) and capital management strategy with its interim results.
See the link below for more details:
SPG - Growth in Office Portfolio - 191120.pdf
Source: Stride Property Ltd & Stride Investment Management Ltd
No comments yet
Steel & Tube Holdings Limited (NZX: STU) Appoints CFO
NZX Market Operations - Promisia Integrative Limited (“PIL”) - Name Change
The New Zealand Refining Company Limited (NZX: NZR) Operational Update for November/December 2020
Mercury NZ Limited (NZX: MCY) FY2021 EBITDAF Guidance Revised to $535 Million
Heartland Group Holdings Limited (NZX: HGH) Heartland Australia Group Issues Australian MTNs
Oceania Healthcare Limited (NZX: OCA) Half Year Result and Interim Report
Promisia Integrative Limited (NZX: PIL) Change of Company Name and Ticker Code
T&G Global Limited (NZX: TGG) Announces New Chief Financial Officer
Seeka Limited (NZX: SEK) Advises the DRP Strike Price
Sky Network Television Limited (NZX: SKT) Andrew Hirst Joins Sky as Interim CFO