Kirkcaldie & Stains Ltd has replaced the complicated pair of agreements it reached in May to sell the Harbour City Centre in Wellington.
The new agreement with the still-unnamed buyer will enable both buildings that make up the centre to be sold at the same time. Due diligence will run through August, and Kirkcaldie & Stains will seek shareholder approval within the following 30 days, with settlement scheduled in the 2 weeks after that.
The NZX-listed Wellington retail & property-owning company tried to sell the centre in 2012, but the buyer pulled out. It went back on the market in February.
Attribution: Company release.