Stride buys Shortland St office space

Staff reporters
Mon, 31 Aug 2020

Stride Property has bought most of the building that houses its own head office at 34 Shortland Street in Auckland for $67.5 million, including an allowance of between $3 million and $3.5 million for building upgrades.The price represents a passing yield of 6.3 percent before the upgrades and 6 percent afterwards.The property has a weighted average lease term of 2.7 years and settlement is expected on Sept. 2.The upgrades to the 17-storey building are expected to be completed over the next 12-to-18 months. Stride won't purchase levels four...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation
Court keeps prominent family's commercial dispute under wraps
Victoria Young | Wed, 10 Aug 2022

The proceeding alleges breaches of the Companies Act and breach of contract.

Markets
Analysts watch for faltering economy in August earnings
Dan Brunskill | Wed, 10 Aug 2022

Reporting seasons begins in earnest next Monday when Contact Energy reports its full-year results.

Law & Regulation
Commerce Commission will use beefed-up fines to chase non-notified mergers
Greg Hurrell | Wed, 10 Aug 2022

The Commerce Commission says it will not let bygones be bygones when it comes to issuing fines and even winding back uncompetitive company mergers it wasn't told about.

Sponsored
A clearer path to the cloud

Step-by-step cloud transition can bring benefits, experts say.

Sponsored
Energy of the future: Why we need innovation

The Tomorrow’s Energy Today conference is looking at ways to develop a clean, affordable and reliable energy future, says Brendan Winitana, chair of the Sustainable Energy Association New Zealand (SEANZ).