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CBD sales augur well for foreign investment

CBD sales augur well for foreign investment - Business - NZ Herald News

The sale of major Auckland city office buildings at 205 and 280 Queen St – now both unconditional – is a positive sign of renewed offshore investment in New Zealand commercial property that is set to continue, say the agents behind the two transactions.

CBRE’s senior directors Warren Hutt and Jonathan Ogg have brokered the sale to an offshore Asian investor of the 15-storey building 280 Queen St, for more than $51 million.

Hutt and Brent McGregor, CBRE’s senior managing director, also negotiated the sale of 205 Queen St to Auckland City Holdings Limited, a company associated with Brisbane-based Bloomberg Incorporation Limited.

Situated at one of the CBD’s busiest intersections, 205 Queen St comprises the twin towers of 17 levels and 22 levels with podium retail on an entire block, at one of Auckland’s busiest pedestrian intersections.

via :NZ Herald News.