Goodman sells Vector Centre for $20.35m
BUSINESSDESK: Goodman Property Trust has sold the Vector Centre in Newmarket in Auckland for $20.35 million to a private investor.
The unconditional sale of the refurbished office building is expected to be settled later this month.
“We have continued to take advantage of a strengthening investment market to recycle capital into more growth oriented opportunities,” said John Dakin, chief executive of the trust's manager.
“The proceeds of this sale, and the earlier disposal of 120 Pavilion Drive, will be reinvested into the trust's value-adding development programme, where we are experiencing strong levels of customer enquiry,” he said.
The Pavilion Drive property's sale for $8.1 million was announced last month and is expected to be settled in October.
Last month, Goodman announced it would start building a $21.4 million office building at its Central Park corporate centre in Greenlane.
Goodman units closed Friday at $1.05, having traded between 93 cents and $1.05 during the last 12 months.