Kirkcaldie receives final instalment from HCC sale

kirkcaldieThe shareholders of Kirkcaldie & Stains approved the $45.85 million sale of the Wellington department store’s Harbour City Centre to property investor, Charlie Zheng, in September last year.

The sale  immediately generated about $16.9 million for the listed retailer.

Today, the purchaser followed this with a further $4.75 million.

This is the final instalment of the sale price which was due one year from the settlement of the sale.

The second mortgage registered over the Harbour City Centre buildings in favour of Kirkcaldie & Stains Properties has been discharged.

The company will release its full year results on October  30.

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