Stride sells Silverdale Centre to Investore for $114m

Stride Property has announced the conditional sale of the Silverdale Centre to Investore Property for $114 million.

The sale price represents a yield of 6.8%.

The transaction is subject to Investore receiving shareholder approval at a special meeting on October 20, 2025.

Stride's chair, Tim Storey, said the sale was a strong outcome for the company, with the sale price reflecting 20% capital growth since March 2020.

He also expressed confidence that the transaction would benefit both Stride and Investore shareholders in the long term.

Investore's portfolio value will increase to $1.1 billion upon settlement of the Silverdale Centre.

Stride's external assets under management, including Investore, Industre Property, and Diversified NZ Property Trust, will amount to approximately $2.3b.