28 Oct 2014

Buyer 'put off' by equities slump

6:41 am on 28 October 2014

New Zealand's largest property trust says it failed to sell two properties worth millions last week because the Australian buyer scaled back its sharemarket float following the sell-off in global equities earlier this month.

The Goodman Property Trust was negotiating the sale of Enterprise Park at Wiri and SuperCheap Auto, part of the Savill Link Estate in Otahuhu, to Quattro Asset Management for about $90 million.

The chief executive of the trust's manager, John Dakin, said the Australian fund manager would no longer include the two properties in its now downsized sharemarket float on the ASX.

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