Willis St buildings sell for $35m

HAMISH RUTHERFORD
Last updated 05:00 22/11/2012

Relevant offers

Industries

Xero moving on US listing Cost of making Hobbit movies close to $1 billion 'Preoccupied' SkyCity worker sacked Council invests in 1080 manufacturing company The new generation wharfies Cruise-ship terminal plan not dead in the water yet Now or never for Ruataniwha irrigation Smiths City seeks new directors Kirkcaldies back in the red TV show aiming to revive tourism from China

Three Willis St buildings used for student housing and short-stay accommodation are changing hands in a $35 million deal between two international owners.

Education House, at 178-182 Willis St, McKenzies Apartments, at 222 Willis St, and Cumberland House, at 235-237 Willis St, are all marketed under the U Stay urban apartments brand.

The buildings' owner, Sydney-based Ingenia, said it had entered into a conditional deal to sell the buildings to an unnamed American private investment group "that specialises in student accommodation in the United States and internationally".

The deal, which is subject to the buyer confirming finance, was expected to be completed in January.

Refurbishment of the buildings will be completed over the summer holidays ahead of the sale.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content