Kirk’s bidder misses second deadline

JASON KRUPP
Last updated 14:05 03/12/2012

Relevant offers

National business

NZ homeowners prepare lawsuit against Carter Holt Harvey for leaky homes Budget Buster: Tipping your waiter is hardly the root of all evil Schooling yourself up to be a confident investor Shamubeel Eaqub: Where was the ambition in the Budget? 'Package deal' funerals may be bumping up costs for New Zealanders More than a hundred jobs on the line after Kiwi footwear empire Banks Group placed in receivership Chart of the day: Big change ahead for Nelson's population Binder's digital wedding planner wins Startup Weekend Chinese market continues to serve up uncertainties that give cause for adaptation All Birds owner Tim Brown opens flagship store in San Francisco

The yet-to-be-named potential buyer of a downtown Wellington retail and office building has missed its second due diligence deadline, according to seller Kirkcaldie & Stains.

The company, which operates the iconic Wellington department store and a property company which manages its real estate assets, announced in late October it had entered into a conditional agreement to sell its Harbour City Centre.

The deal was contingent on the bidder completing the due diligence process by mid-November, which was extended until the end of last week.

In statement filed with the NZX today, Kirkcaldie announced that deadline had come and gone without receiving confirmation that this condition has been satisfied, but stressed the conditional contract remains in place.

No further details on the deal, its value or who the bidder is were disclosed due to mutual obligations of confidentiality between the parties.

Ad Feedback

- BusinessDay.co.nz

Comments

Special offers

Featured Promotions

Sponsored Content