NZ's Urbus Properties Sells Building For NZ$4.8M

Wednesday 14 July 2004

New Zealand property investment company, Urbus Properties Ltd. (URB.NZ), Tuesday said it has sold an office building for NZ$4.8 million, about NZ$500,000 above the current book value.

By The Landlord

"This property was identified as part of the Urbus Properties strategic plan as being for sale in the short term," Urbus chief executive Murry Barclay said in a statement to the stock exchange.

The office building, located north of Wellington in Palmerston North, was sold unconditionally to an unidentified buyer.

Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer