NPT sells its interest in Auckland high-rise to SkyCity for $47 mln

Thu, 12 Oct 2017

By Rebecca Howard Oct. 13 (BusinessDesk) - NPT, the listed property investor, has sold its interest in the AA Centre in central Auckland to SkyCity Entertainment Group for $47 million, as it looks to reposition the business after a board overhaul. “The sale of this property represents a first step on the path to repositioning NPT,” said chair Bruce Cotterill. NPT overhauled its board after shareholders voted to reject a proposal to hook up with larger property investor Kiwi Property Group in April, and instead favoured a proposal by riva...

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