Farhad Moinfar’s Citadel Capital is hoping to develop the Christchurch heritage building, with $4.9m being raised via a wholesale credit offer.
Average asking price increase in the industrial Bay of Plenty town rose by more than 130%.
The company announced a $178.3m deal for a bottling plant last October.
The pandemic has increased demand for smaller, higher-quality office spaces.
Vacancy rates may be up but industry heads say brick and mortar as important as ever.
It will receive a final payment of over $23.5 million from its insurers for 7 Waterloo Quay, Wellington.
The rebranded ASX-listed property trust plans to operate a co-working space company in Auckland.
The lender has to issue new Property Law Act notice.
Other OIO decisions included forestry lots and leasehold land.
The NZX-listed property fund increased its dividend guidance this morning.