SkyCity sells Grand Hotel to Eden Global Capital Private and Auckland City Collective for $221m

NZ Herald

15 Oct, 2026 10:23 PMQuick Read

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SkyCity has struck a $221 million deal to sell its Grand Hotel in central Auckland, taking the casino operator’s property disposals to almost $300m as it seeks to repair its balance sheet.

On Friday, NZX-listed SkyCity Entertainment Group said it had signed a conditional sale and purchase agreement with Eden
Global Capital Private Limited (EGCP) and Auckland City Collective Limited (ACCL) for the hotel and its business assets.

Together with the $74.5m sale of its Albert St office tower and neighbouring Victoria St properties, completed in September, the deal would bring SkyCity’s gross asset sale proceeds to $295.5m.

The total is $95.5m above the $200m or so originally targeted under its asset monetisation programme and near the top of the $275m to $300m range the company outlined more recently.

Read more at BusinessDesk.