CDI: Sale of Auckland Land

MKTUPDTE

Tue, Apr 27 2021 09:45 am

CDL Investments New Zealand Limited (NZX:CDI) advises that it has reached agreement with Fernbrook Property (No.1) Limited for the sale of its land at 9 Jerry Green Street, Wiri. The land is 3.8320 hectares and is currently zoned Business - Heavy Industry Zone.

Settlement of the sale is to take place in January 2022 and the terms of sale and sale price are both confidential to the parties.

CDI Managing Director Mr. BK Chiu said that the sale was beneficial to the company and the proceeds would be utilised for further land purchases and development.

No further announcement will be made by either party until settlement of the transaction in 2022.

-ENDS-

Issued by CDL Investments New Zealand Limited