NZ Post to sell seven North Island shops

New Zealand Post has conditional agreements to sell seven North Island Post Shop properties for $45.5 million.

Many have been owned by the Crown since the 1920s but NZ Post said it wanted to use the money from the sales, as well as the land and buildings, elsewhere in its business.

Peter Herdson, Colliers International national sales director, said the sales were due for settlement at the end of next month.

Freehold properties in Paihia in the Bay of Islands, Parnell, St Heliers, Remuera, Browns Bay, New Lynn and Taupo are being sold.

An NZ Post spokesman said all the buildings had Post Shops but some also had post box lobby areas and other tenants. The Paihia and Taupo properties also had mail delivery operations.

The Auckland properties are:

295-303 Parnell Rd: Heart of Parnell Village, pharmacy, cafe and first-floor office tenant.

16-20 St Heliers Rd: Two-level office/shop with Kiwibank and bakery.

Corner Victoria Ave/Remuera Rd: Has National Bank and ASB.

3062 Great North Rd, New Lynn: Four tenants including ANZ Bank.

55 Clyde Rd, Browns Bay, Post Shop, Kiwibank and other tenants.

The other properties are:

Paihia: Corner Marsden and Williams Rd. Post Shop, Dolphin Discoveries, Paihia Pharmacy.

Taupo: 42-46 Horomatangi St, ANZ Bank and office tenants. NZ Post will remain a tenant in the properties.