Victoria Quarter deal to be announced next week

The deal to sell one of Auckland's largest remaining underdeveloped, mixed-use freehold landholdings will be announced next week.

Rhubarb Lane, between Nelson and Cook Sts was given a new name, - Victoria Quarter - and heavily marketed by Robert Platt, of Bayleys, who said a deal would emerge next Friday.

"It's not an insignificant property and there were a number of things that needed to be negotiated through until we get into an unconditional position," he said.

The mixed-use development was flogged by various real estate agencies attempting to market then sell the property over the years. A sales and display suite was developed at 90 Wellesley St to market live-and-work apartments.

Designs were made for cobblestone streets with fresh produce, coffee, gifts, cheese, wine, flowers and sidewalk seating.

Last month, Platt said no sale was concluded and it was irresponsible to speculate on buyers because he had heard of at least two other parties who had bought it when it had not been sold but negotiations were on-going.

Culum Manson of Manson TCLM said it was not the buyer.