PHOTO: KEVIN STENT/STUFF Former Crown land on Murphy St, adjacent the US Embassy, was sold three times in 2018 and is understood to have tripled in price when it was bought by the embassy.
In a deal that might be one of Wellington’s greatest land flicks, a developer is understood to have made a $3.4 million profit on a tiny sliver of Crown land.
The buyer was the US Embassy, which has confirmed it purchased the 644 sqm site late last year.
But an embassy spokeswoman would not confirm how much the US State Department paid to acquire the land, which borders the embassy compound on Murphy St.
READ MORE VIA STUFF
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