$280m Telecom building under contract?
The Telecom complex in central Auckland is under due diligence.
The Telecom complex in central Auckland is under due diligence.
Unconfirmed reports suggest a buyer is conducting due diligence on the four buildings that make up the 30,000m2 development on Victoria St West. It was completed in November 2010.
The buyer is understood to be Farhad Vladi, an active investor, who may have other co-investors ready to take shares.
Mr Vladi also owns Vladi Private Islands which invests in islands around the world.
The developer of the Telecom complex is Mansons TCLM.
The company’s website states a value of $280 million on the Telecom development although previously director Calum Manson has used the figure of $250 million.
Mansons recently renewed a marketing push to lease its other low-rise office building at 162 Victoria St West.
Another Mansons building due for completion in July is at 27 Napier St, off Ponsonby Road. Mansons bought it from a receiver of one of the L atitude group of companies, associated with Ken Wimsett.
Chris Hutching for NBR NZ Property Investor
Wed, 28 Mar 2012
Wed, 28 Mar 2012
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$280m Telecom building under contract?
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