Sharechat Logo

Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Office Acquisition Now Unconditional

Friday 4th December 2020

Text too small?

On 25 November 2020 Stride Property Limited (SPL) announced that it had entered into a conditional agreement to acquire a premium grade office property at 20 Customhouse Quay, Wellington. SPL is pleased to announce that this acquisition, for a purchase price of $228 million, is now unconditional, with all conditions having been satisfied. The acquisition is expected to settle on 18 December 2020.

This acquisition follows the acquisition of the office building at 215 Lambton Quay, Wellington, known as Grant Thornton House, for $84.5m, which settled on 30 November 2020.

These two acquisitions take SPL’s office portfolio to $571 million, with a 5.8 year WALT, on a pro forma basis as at 30 September 2020.

See the link below for more details:

SPG - Office Acquisition Now Unconditional - 041220.pdf

Source: Stride Property Ltd & Stride Investment Management Ltd



  General Finance Advertising    

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.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report