Troy Bowker’s Caniwi Capital buys $95m of Auckland properties from Mansons TCLM

“Future possibilities include a major industrial park, a retirement village, a supermarket or apartment buildings,” Bowker said.

656 Great South Rd, Greenlane is the black building with a white roof in the centre of this image. It was sold to Caniwi Capital for $45m by Mansons TCLM. Photo / supplied by NZMS

At Greenlane, Caniwi has bought a refurbished office building.

That is a large, two-level modernised building beside Central Park.

“It has undergone a major refurbishment by Mansons and has high-spec fit-outs throughout,” Bowker said.

Inside 656 Great South Rd, Auckland, an office building sold to Caniwi Capital by Mansons TCLM. Photo / NZMS

“It has attracted high-quality, long-term leases with tenants including Tāmaki Healthcare. It is a 4-star, green-rated building and was sold with a 10-year weighted average lease term,” he said.

7 Fraser Rd, Mt Wellington, sold by Mansons TCLM to Caniwi Capital. Photo / supplied by NZMS

Mansons consistently produced great buildings that attracted quality tenants, he said.

“We are seeing more deal flow at prices that are becoming attractive as investors and recent rate cuts are adding to our return on equity,” Bowker said.

Manson expressed satisfaction with the sales and said the business looked forward to more deals with Caniwi.

Plans for the new 11-level offices at 35 Graham St in Auckland’s CBD. Image / Mansons TCLM

Mansons’ largest new project is 35 Graham St in Auckland CBD where it has Yakka demolishing the former Auckland Council offices.

In its place are consented plans for an 11-level, $650m office building overlooking the Viaduct Harbour area.

The design shown in one plan is for a building to be 24,649sq m, or 2.4ha of indoor floor space, a leasing brochure showed.

Specifications show details of each of the 11 levels at 35 Graham St will be:

B2 basement 118sq mB1 basement 452sq mGround floor 2270sq mLevel one 2875sq mLevel two 2793sq mLevel three 3106sq mLevel four 3107sq mLevel five 3109sq mLevel six 3108sq mLevel seven 2751sq mLevel eight 956sq m with a rooftop terrace

Anne Gibson has been the Herald‘s property editor for 25 years, written books and covered property extensively here and overseas.