In its clarification statement on Oct 19, the company said that the sale price of the property represented an excess of $74.4 million over the property’s book value, which was at $48.5 million as at March 31. It added that the $50.0 million mentioned in its initial announcement represented the expected net gain based on the property’s book value as at the date of completion.
Stamford Land has issued a clarification on the property sale price for the disposal of its property in Auckland, New Zealand.
On Oct 10, the company announced that had proposed to dispose of its property, Stamford Plaza Auckland, at 22 – 26 Albert Street in New Zealand for NZ$152.0 million ($123.0 million). The company had also proposed to dispose of its business assets for NZ$18.0 million.
![Stamford Land's proposed disposal of Sir Stamford in Sydney unable to proceed [update]](/_next/image?url=https%3A%2F%2Fedgemarkets-transferred.s3-ap-southeast-1.amazonaws.com%2FSir%2520Stamford%2520at%2520Circular%2520Quay_0_0_2.jpeg%3Fw8fhh_z_i8PXEHXanLWJwvafqTz7D0o8&w=750&q=75)
![Stamford Land's proposed disposal of Sir Stamford in Sydney unable to proceed [update]](/_next/image?url=https%3A%2F%2Fedgemarkets-transferred.s3-ap-southeast-1.amazonaws.com%2FSir%2520Stamford%2520at%2520Circular%2520Quay_0_0_2.jpeg%3Fw8fhh_z_i8PXEHXanLWJwvafqTz7D0o8&w=256&q=75)
