Warehouse to get pretax gain of up to $64 million from sale, leaseback of properties

Mon, 27 Aug 2012

Aug. 27 (BusinessDesk) - Warehouse Group, the biggest retailer on the NZX 50 Index, will get a pretax gain of up to $64 million from the sale and lease back of properties including its North Island Distribution Centre in Wiri, Auckland. Settlement of the four properties is expected to be completed in September, realising total proceeds of $117 million. The retailer has unconditional contracts to sell the Wiri site and two stores and a conditional contract to sell a third store, it said. The sale proceeds will be reinvested in the business in...

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