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News Release


No.1 Queen Street sells

One of the largest transactions for New Zealand has just been completed, the sale of No.1 Queen Street, Auckland CBD



Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
Former Fire Station on high profile corner site/new-zealand/en-gb/news/915/former-fire-station-on-high-profile-corner-siteCHRISTCHURCHFormer Fire Station on high profile corner site

1 Queen St
Acting on behalf of Equinox, the New Zealand Capital Markets team has sold HSBC Building at 1 Queen St, Auckland to Precinct for NZD103 million. 
The team carried out an international marketing campaign resulting in a short list comprising two overseas purchasers and Precinct. The sale to Precinct means the company now owns the whole block.
Built in 1972 and upgraded in 1998, the HSBC building has a total of 21 levels including 17 levels of office space, two levels of car parks (with 127 car lots) and ground level retail.
The building has a seismic strength of 100% and has a net lettable area of 19,358sqm.
This is the second sale that the team has advised on behalf of this client in 12 months (ASB 360 Dominion Rd for NZD25 million was the first).This brings the total for this vendor to NZD128 million.
For more information please contact Nick Hargreaves or John Binning.