Warehouse to sell Newmarket property for $65 million

Mon, 17 Apr 2017

By Rebecca Howard April 18 (BusinessDesk) - Warehouse Group has entered into an unconditional contract to sell its Newmarket property in Auckland for $65 million and said the proceeds will be used to reduce debt. Settlement of the property sale is expected to be completed in July 2017 and the sale proceeds of $65 million will generate a pre-tax gain of approximately $12 million, the Auckland-based company said in a release to the stock exchange. Further details will be provided when it announces its full-year result on Sept. 22. The s...

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