Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
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 MyNBR Tags
- NZ institutional investors set up new corporate governance forum
- Mainfreight throws weight behind KiwiRail, laments lack of national transport strategy
- MARKET CLOSE: Shares rise; F&P Healthcare at record
- ANZ to top up KiwiSaver contributions for staff on parental leave
- IkeGPS eyes US market listing, first needs cornerstone shareholder