Fund managers in property deals

Thursday 12 August 2004

Fund managers were involved in two significant property announcements yesterday. St Laurence Group is set to buy the Finance Centre in Auckland for a little over $100 million and ING completed its Urbus purchase.

By The Landlord

Trans Tasman Properties Limited is set to sell the Finance Centre Complex in central Auckland to St Laurence Property & Finance Limited.

The conditional deal is for $101.15 million cash and represents around 98% of Trans Tasman's carrying book value for the property

St Laurence has until September 14 to carry out due diligence. The complex comprises four buildings with a total net lettable area of 40,900sq m and 497 carparks. Located on Queen Street, the centre fronts onto both Victoria and Albert Streets.

Read More - Opens in a new window
Commenting is closed

Property News

Investors not rushing to sell

There is no rush of investors looking to sell their properties in the post-Covid-19 market, according to the second joint survey from REINZ and economist Tony Alexander.

House Prices

S&P forecast 10% house price fall

Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.


$75m on offer for new developments

Auckland ’s long-term future is sound as well situated residential developments will always sell and demand for affordable housing remains strong, a leading non-bank property financier says.


Advisers buoyed by strong property market

The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.

Site by PHP Developer