Cinema company Reading International has sold a huge parcel of light industrial land in South Auckland, making a bumper profit, Stuff reports. The 28.5 hectare parcel of industrial land in Wiri near Auckland Airport was sold for $77.1 million to 100 Prices Rd, a company linked to prominent retailers Anne and David Norman. Reading made a US$41m (NZ$58.45m) gain from the sale after costs, saying the property sold for well above its book value of US$13.5m and “substantially’’ above estimates before the pandemic.
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