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

Friday 4th December 2020

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

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