John Copson’s Crown Group has bought 2 more large strategic Auckland commercial properties on Greenlane’s Golden Mile and on the Albany Village Highway.
Crown bought the property of just under 9000m² at 404-444 Great South Rd, Greenlane, for $25.5 million. It’s tenanted by Auckland Vehicles Ltd, which operates the Auckland Hyundai & Auckland Isuzu dealerships, together with adjacent dwellings.
A second property at 12 Oteha Valley Rd Extension, Albany, bought days later, has added 8000m² to the 10,000m² Crown already owns next to the site on Dairy Flat Highway.
Crown Group’s property general manager, Chad Cathcart, said in a release today the properties were bought as part of an allocation of $200 million approved by Copson Holdings to Crown to acquire well located New Zealand commercial property with strategic upside: “Both properties are fully leased and provide a range of future potential uses under the Auckland unitary plan.
“These acquisitions add to the string of property purchases the group made in 2017, which included the purchase of a further hospitality precinct at 136-142 Hurstmere Rd, Takapuna, for $25 million, to add to Crown’s existing portfolio of Takapuna landholdings.”
Crown Asia Pacific Group
Attribution: Company release.