Blue Chip extends its portfolio mix
Listed residential property specialist Blue Chip NZ has branched into commercial investment as part of a $25.3 million purchase of properties for shares and cash.
Thursday, November 18th 2004, 8:11PM
by The Landlord
Blue Chip, 75 per cent controlled by Mark Bryers, has deals to buy 63 residential properties, one commercial office block and floors in two others in Auckland.The company is buying historic Landmark House at 185-187 Queen St, formerly the Auckland Electric Power Board building.
It is also buying levels one and 10 of the 13-level office block on the corner of Queen St and Wyndham St, which has a Star Mart convenience store trading from the ground floor.
Wollongong University College House, at 155 Queen St, is mainly tenanted by the Australian university and its floors are held in strata titles.
Blue Chip is also buying office unit F at 56-61 Hobson St, part of the retail centre developed on the former Robbie Burns liquor outlet land.
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