That is an investment arm of the Singaporean Government.<\/p>\n
The North Wharf buildings. Photo \/ Moonshot<\/p>\n
The purchase is subject to Overseas Investment Office approval.<\/p>\n
Pritchard said the purchase aligned with the partnership\u2019s strategy to invest in high-quality, well-located commercial assets. <\/p>\n
The building was finished in 2013.<\/p>\n
ASB will extend its lease till 2040. <\/p>\n
Precinct Properties CEO Scott Pritchard. Photo \/ Jason Dorday<\/p>\n
\u201cThis is a strong endorsement of the Wynyard Quarter precinct, and we look forward to working with ASB as they refresh their premises to reflect their workforce\u2019s needs,\u201d Pritchard said.<\/p>\n
Settlement is due in the first half of this year, he added.<\/p>\n
In November, Stride Property announced<\/a> it would lease the three North Wharf sites in front of the ASB headquarters.<\/p>\n It plans to redevelop those red sheds.<\/p>\n It will lease the properties from Auckland Council\u2019s Urban Development Office for 125 years in a $17.5m deal.<\/p>\n CEO Philip Littlewood announced plans for a redevelopment of two of the three properties opposite ASB North Wharf with the company\u2019s results.<\/p>\n Design and consenting is underway for a 10,500-12,500sq m premium mixed-use retail and office development, he said.<\/p>\n The combined area of the sites on Jellicoe St, facing the pedestrian North Wharf Promenade overlooking the sea, is 3672sq m.<\/p>\n New buildings for hospitality and offices may rise. Those could be up to 15m or five levels, although one heritage building must remain.<\/p>\n However in November Littlewood indicated redevelopment may be only two to three levels high.<\/p>\n That would mean views from the ASB block would be protected.<\/p>\nASB North Wharf: revolutionary open-plan open-floor design. Photo \/ Richard Robinson<\/p>\n