Investore settles 2 property sales

Investore Property Ltd settled 2 property sales worth $32.6 million last week.

They were on the disposal side of the deal the NZX-listed supermarket & bulk retail investor made with Stride Property Ltd (which manages Investore’s portfolio) to buy 3 Bunnings properties from Stride for $78.5 million. Stride established Investore out of a division of its own business and added a portfolio of Countdown supermarkets to list it in 2016.

Investore settled the $11.1 million sale of the Fresh Choice supermarket at 64 Gorge Rd, Queenstown, early last week, and followed that on Friday with the settlement of its $21.5 million sale of the Countdown supermarket at 17 Chappie Place, Hornby, Christchurch.

Earlier stories:
5 March 2018: Investore sells Hornby supermarket property
2 March 2018: Stride’s 3-property sale to Investore settles
9 February 2018: Investore confirms 3-shop buy from Stride, and signs a sale
13 July 2016: Stride stapled securities & Investore start trading

Attribution: Company release.


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