PHOTO: ROSS GIBLIN/STUFF – High profile Wellington property developer Ian Cassels says the sale will help him focus on affordable housing initiatives.
The Spark building in central Wellington has sold for nearly $200 million, making it the most expensive office building ever sold in the capital.
The 12-storey building at 40 – 48 Willis Street was sold by Ian Cassels’ The Wellington Company to an investment syndicate represented by Queenstown law firm Mitchell Mackersy for $197.5m.
Cassels said the sale will allow him to “put more focus on cracking the hard nut of affordable housing” in Wellington.
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