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Mansons has sold another building in its Spark head office complex in Auckland's CBD

Mansons has sold another building in its Spark head office complex in Auckland's CBD

Another office building that forms part of Spark's (formerly Telecom) head office complex on Victoria St in Auckland's CBD has been sold.

This follows the recent sale of another building in the complex to NZX-listed Augusta Capital which is currently syndicating that property.

The entire complex was developed by Auckland property development and investment company Mansons TCLM, which has been progressively selling the individual buildings down.

Mansons director Culum Manson confirmed that another building in the complex had been sold to a NZ-based investor but could not say who the buyer was or how much they were paying because of confidentiality clauses in the contract.

Augusta is paying $65.2 million for the building in the complex that it is syndicating.

 

 

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1 Comments

I am baffled as to why the Instituional Investors  such as NZX and ASX listed Property Companies and listed  property trusts have not bought these assets ?
They could easily raise  the cash by way of rights issues ,  their balance sheets could take on more debt , and the tenant is the second biggest Company in NZ
Maybe they see someting we dont , or dont see value ?

Days to the General Election: 20
See Party Policies here. Party Lists here.