Airline HQ sold for $49m

Macquarie Goodman Group has bought Air New Zealand House from Trans Tasman Properties for $48.9 million.

The building, under construction on the corner of Fanshawe and Beaumont Sts in central Auckland, is expected to be completed by March.

The Australian office and industrial specialist plans to raise A$458 million ($493 million) to finance the deal and other acquisitions.

It also intends to use the funds to reduce its debt-gearing ratio.

Group chief executive and expatriate New Zealander Greg Goodman said a first Hong Kong property had been bought and the money would go to fund other Australasian deals.

The deal to buy the 15,600sq m Fanshawe St office park, which comprises two connected six-level buildings, is subject to approval by Air NZ and the project builder. The airline has a 10-year lease on its new headquarters, paying $4.1 million rent annually.