Charlie's sells building

Charlie's Group is selling an Auckland building for $2.5 million and will lease it back for an initial term of eight years.

The company said it had unconditionally agreed to sell the property at 87 Henderson Valley Rd, West Auckland, with settlement due in October.

The price is a premium to book value. The money will be used to repay debt.

The company reported a $661,000 interim loss after encountering problems with its IT system.