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Recent News
NPT Sells Tauranga Property
1st October 2009
The National Property Trust Limited (NPTL), the Manager of The National Property Trust (NPT) is pleased to announce that the contract for the sale of the Trust’s property in Tauranga comprising the Goddard’s Centre and the adjoining Dumbarton building is now unconditional.
Settlement is scheduled to occur on Monday, 19 October 2009. The sale price of $13.05 million is a 5.98 percent discount to the property’s valuation at 31 March 2009.
The sale proceeds will be applied towards the reduction of bank debt in line with previous announcements and will reduce the Trust’s gearing ratio to below 23 percent. In addition, this sale will assist with the Trust’s strategy to rebalance the property portfolio by reducing its exposure to retail properties.
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