Divestment of Dunedin Property

GENERAL

Tue, Jun 15 2021 01:22 pm

Investore Property Limited (Investore) is pleased to announce it has entered into an unconditional agreement to sell the property at 35 MacLaggan Street, Dunedin, for $10.2 million. Settlement of the sale is expected to occur on 31 August 2021.

This property is currently tenanted by The Warehouse Group, with the current lease expiring on 31 July 2021. The Warehouse Group has given notice that it does not intend to renew the lease, and accordingly Investore has been exploring options for this property.

The purchase price represents an 8.5% premium to the book value of the property as at 31 March 2021.

Ends

For further information please contact:

Mike Allen, Chairman, Investore Property Limited
Mobile: 021 606 134 - Email: [email protected]

Philip Littlewood, Chief Executive Officer, Stride Investment Management Limited as manager of Investore
Mobile: 021 230 3026 - Email: [email protected]

Fabio Pagano, Fund Manager, Stride Investment Management Limited as manager of Investore
Mobile: 027 406 6079 - Email: [email protected]

Jennifer Whooley, Chief Financial Officer, Stride Investment Management Limited as manager of Investore
Mobile: 021 536 406 - Email: [email protected]

Louise Hill, General Manager Corporate Services, Stride Investment Management Limited as manager of Investore
Mobile: 0275 580 033- Email: [email protected]