Divestment of Dunedin Property

Investore Property Limited (Investore) is pleased to announce it has entered into an unconditional agreement to sell the property at 35 MacLaggan Street, Dunedin, for $10.2 million. Settlement of the sale is expected to occur on 31 August 2021. This property is currently tenanted by The Warehouse Group, with the current lease expiring on 31 July 2021. The Warehouse Group has given notice that it does not intend to renew the lease, and accordingly Investore has been exploring options for this property. The purchase price represents an 8.5% premium to the book value of the property as at 31 March 2021. Ends For further information please contact: Mike Allen, Chairman, Investore Property Limited Mobile: 021 606 134 - Email: mike.allen@investoreproperty.co.nz Philip Littlewood, Chief Executive Officer, Stride Investment Management Limited as manager of Investore Mobile: 021 230 3026 - Email: philip.littlewood@strideproperty.co.nz Fabio Pagano, Fund Manager, Stride Investment Management Limited as manager of Investore Mobile: 027 406 6079 - Email: fabio.pagano@strideproperty.co.nz Jennifer Whooley, Chief Financial Officer, Stride Investment Management Limited as manager of Investore Mobile: 021 536 406 - Email: jennifer.whooley@strideproperty.co.nz Louise Hill, General Manager Corporate Services, Stride Investment Management Limited as manager of Investore Mobile: 0275 580 033- Email: louise.hill@strideproperty.co.nz End CA:00373975 For:IPL Type:GENERAL Time:2021-06-15 13:22:25