Axis stocks pocket for more buying

Thursday 29 April 2004

Hanover Group subsidiary Axis Property has sold $22.2 million worth of Auckland property this month, but says it has now switched to buying mode.

By The Landlord

Boasting of a $1 billion asset base, with $200 million-plus of it in property, Hanover said it had sold two large properties but wanted to reinvest the funds.

Chief executive Kerry Finnigan yesterday announced the $9 million sale of 160 Grafton Rd, a four-level, 6354sq m office building tenanted by Datacom, which has naming rights.

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