KEY POINTS:
ING Property Trust is selling a bulk retail development in Auckland for $6.5 million, lowering the proportion of retail property in its portfolio.
The unconditional sale, to be settled on April 1 at the latest, realised a profit of $500,000 or 8.3 per cent over the March 2007 valuation of the Railway St property.
Recent investment in an Albany bulk retail development had greatly increased the weighting of the trust's portfolio to retail, the company said.
- NZPA
