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.


2 · Got a question about this story? Leave it in Comments & Questions below.

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

2 Comments & Questions

Commenter icon key: Subscriber Verified

Does anyone know what yield it sold at?

Reply
Share
  • 0
  • 0

9.35% on passing.

Reply
Share
  • 0
  • 0

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 0.7167 -0.0014 -0.19%
AUD 0.9138 -0.0022 -0.24%
EUR 0.6092 0.0000 0.00%
GBP 0.5437 0.0015 0.28%
HKD 5.5959 -0.0114 -0.20%
JPY 80.4450 -0.1420 -0.18%

Commods

Commodity Price Change Time
Gold Index 1301.2 -8.600 2017-10-16T00:
Oil Brent 57.6 0.670 2017-10-16T00:
Oil Nymex 52.1 0.420 2017-10-16T00:
Silver Index 17.3 -0.042 2017-10-16T00:

Indices

Symbol Open High Last %
NZX 50 8090.7 8114.1 8090.7 0.26%
NASDAQ 6622.6 6632.5 6605.8 0.28%
DAX 12995.8 13034.4 13003.7 -0.07%
DJI 22892.9 22960.1 22871.7 0.37%
FTSE 7527.0 7550.4 7527.0 -0.14%
HKSE 28777.2 28777.2 28692.8 0.02%
NI225 21352.2 21394.0 21255.6 0.38%
ASX 5846.8 5896.3 5846.8 0.73%