10 Sep 2009

Appliance company sells buildings in leaseback deal

6:38 am on 10 September 2009

Fisher & Paykel Appliances is selling its head office and manufacturing plant in Auckland to Direct Property Fund, and will lease them back.

The company says part of the site has been sold unconditionally for $53 million, with the remainder to be sold for $21 million subject to finance.

Fisher & Paykel Appliances says it will repay an amortising debt facility with the proceeds from the unconditional sale six months earlier than scheduled.