Commercial

Urbus management deal goes unconditional

A deal to sell the management of Urbus Properties for about $25 million has gone unconditional.

Tuesday, July 20th 2004

Urbus chairman Denis Thom said the deal to sell the manager to a joint venture company owned by ING (NZ) and Symphony Group was to settle on August 11.

But the deal has cost Urbus chief executive Murray Barclay his job. He has resigned, saying he will continue for the next three months.

He was appointed last year and said yesterday that when he took up the post, the management company was not for sale. Barclay, former commercial manager at Auckland International Airport, has not decided where to go next.

Barclay had earlier signalled a new direction for the company's property portfolio, including the sale of some Wellington buildings and buying more in Auckland.

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SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
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Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
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Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
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First Credit Union Standard	8.50
Kiwibank	8.50