09 Feb NorthWest Two Arbitration Decision
NorthWest Two, Auckland, on track to complete in October 2016
In September 2015, Stride Property Limited (Stride) announced that Westgate Town Centre Limited (WTCL) had commenced arbitration proceedings about how large one of Stride’s four NorthWest Two buildings under construction is required to be. The decision of the arbitrator has now been released. The decision confirms that Stride’s plans for the particular NorthWest Two building meet all relevant requirements, including those under the arrangements that Stride has with WTCL.
NorthWest Two is on track to complete in October 2016 as anticipated.
NorthWest Two will complement Stride’s NorthWest Shopping Centre and is an important part of the overall Westgate Town Centre. Once complete, NorthWest Two will comprise four separate buildings providing around 7,700m² of additional dining, retail and office space in a purpose-built main street retail environment.
For Further Information Please Contact:
Tim Storey, Chairman, Stride Property Limited
Mobile: 021 633 089 – Email: firstname.lastname@example.org
Peter Alexander, Chief Executive, Stride Property Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: email@example.com
Jennifer Whooley, Chief Financial Officer, Stride Property Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: firstname.lastname@example.org
Stride Property Limited (Stride), formerly known as DNZ Property Fund Limited, owns one of New Zealand’s largest diversified investment property portfolios with $1,236.3m (value as at 30 September 2015 of $949.3m and the subsequent $287m acquisition of the 19 Large Format Retail properties) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand.