Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Property

The Hour Glass to acquire 2 New Zealand office buildings for $54 mil

Stanislaus Jude Chan
Stanislaus Jude Chan • 1 min read
The Hour Glass to acquire 2 New Zealand office buildings for $54 mil
The Hour Glass says the properties, located in Auckland’s prime luxury retail precinct, will provide the group with the opportunity to develop and strengthen its footprint in New Zealand over time.
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Jan 22): Luxury watch retailer The Hour Glass has entered into sale and purchase agreements to acquire two office buildings along Queen Street in Auckland, New Zealand, for a total consideration of NZ$60.0 million ($54.0 million).

Both properties are five-storey retail and commercial office buildings on freehold leases.

They sit on a total site area of 392 sqm and have a total gross lettable area of 1,736 sqm (18,700 sq ft).

The purchase consideration will be funded by internal resources and bank borrowings.

The Hour Glass says the properties, located in Auckland’s prime luxury retail precinct, will provide the group with the opportunity to develop and strengthen its footprint in New Zealand over time.

Shares in The Hour Glass closed half a cent lower at 80 cents on Wednesday before the announcement.

Read also:

Highlights

Re test Testing QA Spotlight
1000th issue

Re test Testing QA Spotlight

Get the latest news updates in your mailbox
Never miss out on important financial news and get daily updates today
×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.