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 0.8012 0.0052 0.65%
AUD 0.9077 0.0006 0.07%
EUR 0.6252 0.0028 0.45%
GBP 0.4952 0.0024 0.49%
HKD 6.2173 0.0415 0.67%
JPY 85.2240 0.1390 0.16%

Commods

Commodity Price Change Time
Gold Index 1244.2 5.700 2014-10-20T00:
Oil Brent 85.4 -0.760 2014-10-20T00:
Oil Nymex 82.8 -0.040 2014-10-20T00:
Silver Index 17.3 0.020 2014-10-20T00:

Indices

Symbol Open High Last %
NZX 50 5197.9 5238.9 5197.9 0.68%
NASDAQ 4254.2 4316.9 4258.4 1.35%
DAX 8819.3 8834.7 8850.3 -1.50%
DJI 16373.1 16401.6 16380.4 0.12%
FTSE 6310.3 6320.3 6310.3 -0.68%
HKSE 23073.4 23231.5 23070.3 -0.25%
NI225 15115.3 15115.3 15111.2 -1.66%