DNZ Property Fund says it has bought a 220 square metre piece of vacant land fronting onto Johnsonville Road in Wellington with Diversified NZ Property Fund.
The two funds, who are co-owners of the adjoining shopping centre, paid $440,000 for the land in which each fund now has a 50% share.
DNZ acting chief executive Patrick O'Reilly says it's a strategic piece of land in the future development of the Johnsonville Shopping Centre.
