PHOTO: CAMERON BURNELL/STUFF – In December Victoria University of Wellington sold its Karori campus to retirement village company Ryman.
Victoria University reaped a major windfall from the sale of its unwanted Karori Campus, with a retirement village operator paying millions more than the land’s rateable value.
Property records revealed that a company controlled by Ryman Healthcare paid $28 million for the site from the university back in December. The rateable value of the land was $20.4m.
At the time both the university and Ryman refused to talk publicly about the price, despite the fact that details of the transaction would inevitably be made public within months.
On Monday a spokeswoman for the university requested evidence that the sales price was indeed publicly available. After the details were supplied, the university refused to comment.
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