Roxy-Pacific buys NZ office tower for NZ$63m
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
REAL estate developer Roxy-Pacific Holdings said on Thursday that it will acquire NZI Centre in Auckland, New Zealand, for some NZ$63 million (S$61.7 million).
The property, a commercial office building situated on the western side of Auckland's Central Business District, has a leasehold tenure until Dec 31, 2036.
It is currently fully leased to IAG New Zealand, one of the largest insurers in the country.
Roxy-Pacific believes that the property presents a prime investment opportunity and has the potential to be a stable source of rental income for the group.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
