Interest in Auckland's Lumley Centre

CATHERINE HARRIS
Last updated 14:48 17/07/2014
Lumley Centre
CENTRAL: The Lumley Centre in the heart of Auckland.

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An investment vehicle for German pension fund Deka is doing due diligence to buy Auckland's Lumley Centre for $145 million.

Deka has announced in a quarterly investor update that it has been granted exclusive due diligence rights to the 15-floor Shortland St building, which is being sold by Australia's Dexus Property Group to free up cash.

JLL is marketing the property and its research director Justin Kean said more than 100 parties had registered their interest.

The agency had been "overwhelmed by the level of interest", with both international and a "surprising" number of private investors making contact.

The Lumley Centre is one of only a handful of top office buildings for sale in Auckland's tightly held CBD, where rents are beginning to rise due to a shortage of prime office space.

The centre, built in 2005, has just under 20,000 square metres of net lettable space and is rated as "premium", the highest quality ranking used by property agents.

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