Provided by NZX
  • VCT2.83

    $0.020.71%

  • Open 2.85 High 2.84 Low 2.82 Bid Price 2.83

    Offer Price 2.84 Value 70696.63 Volume 24973

Current as of 25/12/14 05:40PM NZST

Goodman sells Vector HQ for $20.35m

John Dakin, chief executive of the Goodman Property Trust. Photo / Richard Robinson
John Dakin, chief executive of the Goodman Property Trust. Photo / Richard Robinson

Goodman Property Trust has sold the Vector Centre in Newmarket, Auckland for $20.35 million to a private investor.

The unconditional sale of the refurbished office building is expected to settle later this month.

"We have continued to take advantage of a strengthening investment market to recycle capital into more growth oriented opportunities," said John Dakin, the chief executive of the trust's manager.

"The proceeds of this sale, and the earlier disposal of 120 Pavilion Drive, will be reinvested into the trust's value-adding development program where we are experiencing strong levels of customer enquiry," Dakin said.

The Pavilion Drive property's sale for $8.1 million was announced last month and is expected to settle in October.

Last month, Goodman announced it would start building a $21.4 million office building at its Central Park corporate centre in Greenlane.

Goodman units closed Friday at $1.005, having traded between 93 cents and $1.05 during the last 12 months.

- BusinessDesk

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production apcf04 at 25 Dec 2014 17:45:07 Processing Time: 167ms