3 Jun 2010

Chews Lane units sold

7:20 pm on 3 June 2010

Listed commercial property investor, AMP NZ Office Trust, says it has settled sales of five individually-titled retail units in the Chews Lane precinct in Wellington.

The properties sold for $11.65 million, 11% more than their valuation.

The trust will use the money to repay bank debt and expects its gearing to be about 23% at the end of June.