Augusta Capital Ltd said on Friday the shareholders of Augusta Value Add Fund No 1 Ltd had approved the sale of 54 Cook St, at the corner of Nelson St at the top of the Auckland cbd, to the Augusta Capital group.
The transaction is one of a series of events following the lease of the building to Jucy in September. First, the building would be transferred from one entity to another under Augusta’s control, and that will seed a tourism fund.
The transaction remains conditional on obtaining a satisfactory cost estimate from Augusta’s quantity surveyor by this Friday.
Managing director Mark Francis said if the sale proceeds, settlement should occur on Wednesday 31 October.
Attribution: Company release.