Hotelcorp deal
PA Wellington Listed tourism and transport operator, Hotelcorp New Zealand, has agreed to buy the Birkenhead Shopping Centre and Marina at Drummoyne in Sydney for sAust42 million (SNZ4SM). Hotelcorp told the Stock Exchange yesterday that it had entered an agreement with Jit Poh Investments Pte and Tai Tak Estates to buy Birkenhead Estates Pty, the owner of the shopping centre and marina.
The vendors are the family investment companies of Ho Whye Chung and Ho Sim Guan, who are directors of Hotelcorp. The purchase, which will be conditional on ap-
proval at the company’s extraordinary meeting on December 22, will be funded by borrowings. The site, which had "considerable development potential” had been valued at sAustBlM (SNZBBM) Hotelcorp said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19871208.2.137.27
Bibliographic details
Press, 8 December 1987, Page 33
Word Count
121Hotelcorp deal Press, 8 December 1987, Page 33
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in