Asset Plus Limited (NZX:APL) has entered into a conditional Agreement to Lease (ATL) with Restaurant Brands Limited (NZX:RBD) to construct a new building on existing bare land at Eastgate Shopping Centre.
Key estimate metrics for the development include:
- Development expenditure of $1.3 million (without already held land);
- Projected development margin of 20%;
- Forecast yield on cost of 6%.