Stride sells Retail Property in Hamilton

Stride sells Retail Property in Hamilton

NZX Announcement Immediate — 05/04/2016

Stride Property Limited (Stride) has entered into an unconditional agreement to sell the retail property known as the Hamilton Central Shopping Centre on the corner of Bryce, Ward and Tristram Streets in Hamilton to a local purchaser for $13.425m.

 
“This sale is consistent with Stride’s communicated strategy of divesting non-core assets to fund new development and acquisition” said Stride’s Chief Executive, Peter Alexander.

The sale price is 3.42% below the book value of the property as at 31 March 2015. Settlement is scheduled for 4 May 2016.
 


 
For Further Information Please Contact:
Tim Storey, Chairman, Stride Property Limited
Mobile: 021 633 089 – Email: tim.storey@strideproperty.co.nz

Peter Alexander, Chief Executive, Stride Property Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: peter.alexander@strideproperty.co.nz

Jennifer Whooley, Chief Financial Officer, Stride Property Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: jennifer.whooley@strideproperty.co.nz

Stride Overview:
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.

Stride conditionally sells Office Property in Auckland
Stride Portfolio Update