Sale of 35 Graham Street, Auckland

Asset Plus (NZX:APL), a Centuria NZ managed property fund, is pleased to announce the sale of 35 Graham Street, Auckland, at a price of $65 million.

The sale, to a substantial New Zealand based private investor, is forecast to add significant value to shareholders, eliminating delivery and leasing risk in respect of the asset.

The transaction requires approval by an ordinary resolution of shareholders and is subject to a meeting to be held by 3 June 2022.

If approved, the purchase price would reduce outstanding debt to approximately $20 million and provide APL with balance sheet certainty.