...Urbus Chief Executive Murray Barclay said in a statement to the New Zealand Exchange that the sales are "in line with the company's strategy of reducing its profile" to the Wellington office market.
Monday, September 22nd 2003, 9:20AM
by The Landlord
"The current property environment was proving beneficial to Urbus in helping to achieve good prices for its Wellington properties," Barclay said.
But Urbus is concerned the Wellington office market is having to face "a significant number of challenges including increasing insurance premiums, over renting, building operating expenses and loss of major tenants."
