26 Mar '15, 10pm

Singapore Govt expanding NZ property holdings, taking further stake in Akl w/ new office block

An artist's impression of the new building in Auckland's Wynyard Quarter - about to be built on the corner of Gaunt and Daldy Streeets. The Singaporean Government is expanding its New Zealand property holdings, taking a further stake in Auckland via a new office block yet to be built. Listed landlord Goodman Property Trust has just announced that Fletcher Building has struck a deal to sell a new Wynyard Quarter building, 80 per cent leased to Datacom, to the Singaporeans and Goodman. The purchaser is Wynyard Precinct Holdings - 49 per cent owned by the Singapore state's Government Investment Corporation and 51 per cent owned by listed landlord Goodman Property Trust. The buyer will pay $86.2 million for the Datacom building. GIC's founding chairman was former Singaporean Prime Minister Lee Kuan Yew who died this month. The conditional Datacom deal sees the sale of the yet-...

Full article: http://www.nzherald.co.nz/business/news/article.cfm?c_id=...

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