Property mogul Sir Bob Jones has snapped up a high-rise Wellington building that has been passed from a bankrupt property developer, to a lawyer who escaped bankruptcy, to another developer.
ASB Bank Tower, which has views of the Wellington waterfront, was once owned by Terry Serepisos who had his offices in the 16-storey tower. He paid $23.5m for it in 2006.
Six years later, Wellington lawyer Michael Garnham’s company Sams Bay Holdings snapped up the property for $22m.
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