Fletcher sells head office premises for $36 million

Jonathon Ling

Auckland head office premises of Fletcher Building have been sold to Bay of Plenty property development company Carrus Corporation for $36 million.
Philip King, general manager investor and media relations said, “The Penrose property, which includes an eight-storey building and vacant land, was bought from Macquarie Goodman about 18 months ago to restructure the lease arrangements.”
He added, “The sale price achieved was in excess of the book value but the company would not say how much that was.”
An agreement has been signed by the Fletcher Building for a long time lease and it will continue to operate at the Penrose site.
Roest said, “Our next major refinancing does not fall due until 2010.”

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