Real Estate Institute sells own building

The Real Estate Institute has sold its national headquarters for $6.2 million in a deal brokered by Bayleys.

The buyer is an unidentified Auckland-based family business. But they will soon become known because they plan to use the building as their new premises. 

The two-level 758sq m building in the heart of Parnell in Auckland, sits on 1813 square metres of land and was sold after a successful international tender campaign managed by Bayleys agents James Chan and Cameron Melhuish.

The Institute owned the building for 27 years.

“It was appropriate to us as a membership organisation that the sales process encompassed taking this property to the widest possible buyer audience, and ensuring that all negotiations were conducted professionally and in accordance with the published tender process,” Real Estate Institute chairwoman Dame Rosanne Meo says in a prepared statement.

This article is tagged with the following keywords. Find out more about My Tags

Post Comment

4 Comments & Questions

Commenter icon key: Subscriber Verified

That headline made my day - immediately made me think "property bubble"? :D


why did they sell it?


Because they are ceasing to be of any relevance. The Crown's REAA controls the real estate industry now.


Barfoot and Thompson?


Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.7783 -0.0050 -0.64%
AUD 0.8851 -0.0022 -0.25%
EUR 0.6219 0.0005 0.08%
GBP 0.4868 -0.0029 -0.59%
HKD 6.0420 -0.0326 -0.54%
JPY 87.4350 1.8680 2.18%


Commodity Price Change Time
Gold Index 1198.1 -13.300 2014-10-30T00:
Oil Brent 86.2 1.180 2014-10-30T00:
Oil Nymex 81.1 -1.180 2014-10-30T00:
Silver Index 16.4 -0.844 2014-10-30T00:


Symbol Open High Last %
NZX 50 5370.2 5405.3 5370.2 0.33%
NASDAQ 4639.4 4641.5 4566.1 1.41%
DAX 9283.4 9339.3 9114.8 2.33%
DJI 17208.8 17395.5 17195.4 1.13%
FTSE 6463.6 6553.4 6463.6 1.28%
HKSE 23913.7 24046.4 23702.0 1.25%
NI225 15817.1 16533.9 15658.2 4.83%