Vital Healthcare gets $5.25m for Pt Chevalier property

Pitman House

BUSINESSDESK: Vital Healthcare Property Trust, the NZSX-listed investor in health properties, has sold its Pitman House site in Auckland's Pt Chevalier for $5.25 million.

"The sale of Pitman House is a continuation of the targeted divestment programme of the trust’s non-core, or lower-value assets," chief executive David Carr says.

"The repayment of debt and recycling of capital into opportunities that enhance the overall position of the trust forms part of our on-going property and capital management strategy."

The settlement will take place on October 3.

In August, Vital Healthcare boosted its annual profit 22% to $9 million, on acquisitions and completed development projects.

Its shares last traded at $1.22 and have gained about 11% this year.

This article is tagged with the following keywords. Find out more about My Tags

2 Comments & Questions

Commenter icon key: Subscriber Verified

Does anyone know what yield it sold at?

Reply
Share

9.35% on passing.

Reply
Share

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7743 -0.0004 -0.05%
AUD 0.9513 0.0009 0.09%
EUR 0.6319 -0.0017 -0.27%
GBP 0.4960 0.0003 0.06%
HKD 6.0060 -0.0013 -0.02%
JPY 92.8640 0.2800 0.30%

Commods

Commodity Price Change Time
Gold Index 1195.4 -2.890 2014-12-19T00:
Oil Brent 61.4 1.580 2014-12-19T00:
Oil Nymex 57.1 2.910 2014-12-19T00:
Silver Index 16.0 0.096 2014-12-19T00:

Indices

Symbol Open High Last %
NZX 50 5527.8 5553.7 5527.8 0.25%
NASDAQ 4759.0 4779.2 4765.4 0.14%
DAX 9827.3 9924.0 9787.0 0.62%
DJI 17812.2 17899.7 17804.8 0.42%
FTSE 6545.3 6620.9 6545.3 0.55%
HKSE 23264.0 23478.9 23116.6 1.26%
NI225 17685.5 17692.6 17621.4 0.08%