Trans Tasman buys prime Hong Kong retail property

Thursday 11 March 2004

While Trans Tasman Properties is hoping to sell a large chunk of inner-city Auckland properties, it has made its first step into Asia.

By The Landlord

Its Auckland real estate on the block forms part of the Finance Centre, developed in the 1980s. Trans Tasman has a contract to sell the collection of adjoining towers, conditional on the buyer getting finance.

"An announcement will be made if and when this goes unconditional," said Trans Tasman chief Rod Hodge yesterday.

As signalled by executive chairman Don Fletcher at the annual results announcement last month, the company is buying in Asia and this month said it would pay $7.5 million for Hong Kong's Excelsior Plaza.

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