Rural Equities sells two more properties for $8M

Tue, 17 Jul 2012

By Paul McBeth July 17 (BusinessDesk) - Rural Equities, the farming group controlled by the Cushing family, sold two properties for almost $8 million as part of last year's strategic review. The Hastings-based company agreed to sell a 237-hectare arable block in mid-Canterbury to its existing tenant, and a block of land near the Manawatu Gorge to a separate buyer for a gain of some $475,000 above their 2011 valuations, Rural Equities said in a statement on the Unlisted platform, where its stock trades. Both sales will settle on June 28 next...

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