Kiwi Property terminates conditional Vero Centre sale

NZX RELEASE
2 August 2024
Kiwi Property terminates conditional Vero Centre
sale


Kiwi Property advises that it has terminated the contract for the conditional sale of the
Vero Centre, after the purchaser, a Hong Kong China based conglomerate, failed to
meet key terms of the agreement.

Kiwi Property Chief Executive Officer, Clive Mackenzie, said the company had worked
hard over a number of months to successfully complete the transaction and was
disappointed by the outcome.

“Despite our best efforts, the purchaser has now missed the deadline for milestones
such as paying the deposit and seeking Overseas Investment Office approval for the
deal and, as a result, we’ve made the difficult decision to terminate the conditional
sale contract.”

ENDS

Contact us for further information:
Clive Mackenzie
Chief Executive Officer
clive.mackenzie@kp.co.nz
Campbell Hodgetts
Head of Communications and Investor Relations
campbell.hodgetts@kp.co.nz
+64 275 634 985
About us:
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New
Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We’ve been
around for over 30 years and proudly own and manage a significant real estate
portfolio, comprising some of New Zealand’s best mixed-use, retail and office
buildings. Our objective is to provide investors with a reliable investment in New
Zealand property through the ownership and active management of a diversified,
high-quality portfolio. Kiwi Property is licensed under the Real Estate Agents Act 2008.
To find out more, visit our website kp.co.nz