Kiwi Income sells Queen St building to Australian firm

Tue, 22 Oct 2013

By Paul McBeth Oct. 23 (BusinessDesk) - Kiwi Income Property Trust, the biggest listed property investor, will sell its office building at 205 Queen Street in a two-stage deal to a company associated with privately held Brisbane-based Bloomberg Incorporation. The trust’s manager, Kiwi Income Properties, has entered into a sale and purchase agreement with Auckland City Holdings in a two-stage deal that will see the local property investor paid $47.5 million up front for 50 percent of the building, it said in a statement. The remaining tranch...

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