Bugger me. Ryman owns the old Tip Top bread factory. That defunct building has been a blot on the landscape for ages. That'll be the land bankers. Land tax now!
Reposted from
Bernard Hickey
How long do you wait before selling below CV? 3 years? 7 years? Ryman couldn’t wait any longer. It has just slashed its building plans by 70% & is about to dump some of its land bank valued at $338 million on the market. It says it may have to lower its properties' values by as much as $300 million.
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