$13.8m deal for Shortland St site

Monday 13 September 2004

Property developer Trans Tasman Properties has an unconditional agreement to sell its Shortland St site in Auckland for $13.8 million.

By The Landlord

It said after deducting the costs of sale the proceeds would be about 5 per cent above Trans Tasman's book value.

The sale to Dae Ju Housing is the latest property divestment by the company, which said in June it planned to dispose of mature assets in New Zealand and Australia after a $112 million land purchase in Hong Kong.

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