Balgan Limited entered into an agreement to acquire 7500 square metre Te Aro site in Taranaki St from The Colonial Motor Company Limited (NZSE:CMO) on July 1, 2015. Settlement of the sale and purchase transaction is scheduled for August 31, 2015. Balgan Limited cancelled the acquisition of 7500 square metre Te Aro site in Taranaki St from The Colonial Motor Company Limited (NZSE:CMO) on July 1, 2016.