The PWC Centre building in Christchurch has been bought by an equity investment company for $60 million. An equity investment company has paid $60 million for the PWC Centre, the second-largest office building transaction ever seen in Christchurch, according the broker, Savills New Zealand. The PWC Centre at 60 Cashel Street opposite the Bridge of Remembrance in central Christchurch, was sold to Maat Consulting Limited by Singapore-owned Grand Central (NZ) Limited, with the sale price representing a yield of 5.6 per cent. “We’ve seen a decrease in vacancy rates in the office market, as well as rents stabilising and some rental increases forecast. The PWC Centre provides 7864sqm of office space across six levels with net annual rent amounts over $3.3m and 100 car parks.

Source: Stuff November 23, 2020 00:56 UTC