PHOTO: SUPPLIED – Ex-Deloitte House when it was advertised for sale in 2016 by owner Precinct Properties.
Stock Exchange-listed Precinct Properties has clinched an agreement to sell the former earthquake-damaged Deloitte House at 10 Brandon St, Wellington, for $10.2 million.
Over the past 15 months the property has been revalued down in Precinct’s books to $7m – a fraction of the $56m purchase price paid by the company in 2007.
“With several options for 10 Brandon Street having been assessed to date, we believe the sale of this asset represents the best option for Precinct,” chief executive Scott Pritchard said in a statement.
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