Hellaby Holdings has sold five industrial properties in Wanganui and Levin.
The properties are tenanted by its subsidiaries, TRS Tyre & Wheel and Levana Textiles.
Hellaby managing director David Houldsworth said the net selling price after costs was about $4.4 million. The net gain over the book value would be
about $2.6 million.
Hellaby is selling non-core assets to strengthen its financial base and increase its funds pool for future purchases.