St Laurence buys Auckland CBD building

St Laurence Property & Finance has agreed to buy HP House in Auckland for $24.75 million, plus GST.

Situated on the waterfront in Auckland's CBD, the property has six floors of office space and ground floor retail for a total of 8888sq m.

Key tenants include Hudson Global Resources, Caltex NZ Limited, Geneva Health International and Cosco NZ Limited.

Net rent generated from the property is $2.14 million.

It was built in 1985 and partly refurbished and extended in 1999, with the addition of two levels of office and ground floor retail tenancies. The deal is conditional on Crown approval and settlement is expected in mid January next year.

St Laurence Property & Finance is a wholly-owned subsidiary of St Laurence Holdings.

- NZPA