Stride Property Group will negotiate with Portofino restaurant

Portofino has been located at 55 Lady Elizabeth Lane, Wellington, since 2009. (Image: Stride Property Group)

Wed, 03 Jul 2024

Publicly listed Stride Property Group is prepared to sit down and talk to a Wellington restaurateur over a bitter lease dispute, chief executive Philip Littlewood says.Italian restaurant Portofino has operated from the Stride-owned 55 Lady Elizabeth Lane building overlooking Lambton Harbour since 2009.The restaurant company, Portofino Wellington Waterfront, took Stride to court, claiming it was entitled to a new 12-year lease after its old lease expired or losses of $8.9 million.It also claimed it owed a rent rebate and a lease extension b...

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