Stride Property sinks into the red after portfolio devaluation
The company is selling a $30m property as part of its strategy to cut costs.
Stride owns the Meridian Building in Wellington.
Industrial and retail property group Stride has recorded a full-year loss, as rising interest rates resulted in a reduction in the fair value of its investment properties.
The NZX-listed diversified property company, which owns Wellington’s Meridian Building and the NorthWest Shopping Centre in
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