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CentrePort Prepares For Growth
CentrePort Prepares For Growth
Monday, 10 May 2010 12:00

CentrePort announced today one of a series of initiatives, aimed at funding the growth of its transport and property businesses.

Chief Executive Blair O’Keeffe said today, “Our core business is growing and we are working on a series of new business growth initiatives in both property and transport infrastructure.”

One of the initiatives is to offer for sale a part interest in several of CentrePort’s buildings in Harbour Quays.

He said, “We already operate a number of joint ventures and we see this as a successful business model for the future.”

“The company is constantly seeking the most efficient use of its capital. Funding from within our own portfolio is a responsible way for us to grow whilst maintaining a healthy balance sheet. We have created value that we would now like to release.”

“Proceeds will be deployed into enhancing CentrePort’s position as a key regional and national transport hub, and completing our Harbour Quays development,” Mr O’Keeffe said.

“We have proven the Harbour Quays concept beyond doubt. Harbour Quays has been established as a premium office location featuring ‘5 Green Star'1 rated buildings and ‘A’ grade long term tenants, making it a very attractive investment opportunity.”

He said CentrePort intends to retain an interest in the buildings and would also retain ownership and control of the land in Harbour Quays.

Mr O’Keeffe said the company will take the offer to market by June.

1 Full name of certification is ‘5 Green Star NZ – Office Design V1 Certified Rating’

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