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Urbus sells Wellington property

Listed property investor Urbus Properties Limited has sold an office building in central Wellington for $5.9 million.

Tuesday, July 27th 2004

The company said the sale price was above the property's current book value.

The Boulcott St property is currently leased by the Department of Conservation.

After this transaction the mix of properties owned by Urbus as part of its $402 million portfolio will be 45% retail, 35% industrial and 20% office. Urbus now has 70% of its properties, by value, in the Auckland region.

Shares in the company were up 1 cent this morning at 96 cents, having traded between 87 cents and 97 cents over the past 12 months.

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