Parties associated with America's Cup winner Sir Russell Coutts are understood to have bought Oracle House in Auckland's CBD in a deal that could be worth up to $50 million, making him the landlord of his boss American businessman Larry Ellison.
Although QV shows the big squat four-level premises opposite Telecom's national headquarters in Victoria St West is still in the hands of the developers, the Herald has been told the sailing giant is now the landlord of his boss, Larry Ellison, who has naming rights on the sparkling new block.
Coutts, chief executive of Oracle Racing, is understood to be in San Francisco now but has a house at Whangaparoa.
The deal over the large Auckland office block, understood to have come about because of the association between Ellison and Coutts, has the city's property experts abuzz as it is the sailing giant's first entry into the bigger realm of commercial property investment.
QV shows Mansons Properties still owns the A-grade Green Star building at 162 Victoria Street West but a title transfer is understood to be pending.
