Stride plans $43 mln redevelopment for Waste Management in 25-year deal

Tue, 21 Nov 2017

By Paul McBeth Nov. 22 (BusinessDesk) - Stride Property Group plans to spend $43 million transforming an Auckland bottling plant into a logistics site for the country's biggest rubbish collection and recycling firm, Waste Management NZ. The property company wants to finish the redevelopment in the September 2019 quarter, after which Waste Management would sign up to a 25-year lease, generating initial net rental income of $3.89 million with structured growth built into the agreement, meaning it should break the $100 million mark for Stri...

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