Strata titles arrive in MDC Building on Broadway

"This is the first office building along Auckland's premier retail strip to have floors split and sold as separate freehold units," says Cameron Loader, director of Finstar, which recently purchased the building at 142 Broadway from Fellingston Holdings, a joint venture with Tainui.

Although the four-level 1970s building had been on the market for some time, Finstar bought it in October, just as the Modern Age Institute of Learning language school collapsed with debts of $4.4 million. It had been leasing the top one-and-a-half floors.

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