New Zealand-based Fletcher Building Limited
(ASX:FBU) has inked a deal to construct a new office building in Auckland’s Wynyard Quarter.
The building and manufacturing supplier says its construction arm will work on the property which will include retail and office space and carparks.
Upon completion a joint venture (JV) between Goodman Property Trust (NZE:GMT) and Singapore’s sovereign wealth fund have agreed to buy the asset for about $AUD83.7 million.
Goodman will also finance the construction of the building through a funding deal with Fletcher and funding will be repaid on settlement of the completed building.
Fletcher Building reported a net profit of $113 million in the first half of the 2015 financial year.
