Discount retailer Warehouse Group said it plans to sell three stores and its Wiri distribution centre on a sale and leaseback basis for about $100 million.

Property company NPT reported a 12.5 per cent increase in fiscal year profit.

Stephen Martin, Senior development manager, Todd Property Group, is talking about Long Bay, where the business has completed three seasons of earthworks on its large land holding. Towards the end of this year, the first houses will rise there.