Hellaby sells industrial properties

Hellaby Holdings has sold five industrial properties in Wanganui and Levin.

The properties are tenanted by its subsidiaries, TRS Tyre & Wheel and Levana Textiles.

Hellaby managing director David Houldsworth said the net selling price after costs was about $4.4 million. The net gain over the book value would be about $2.6 million.

Hellaby is selling non-core assets to strengthen its financial base and increase its funds pool for future purchases.