Sir Ron Brierley

PHOTO:BEN RUSHTON/SYDNEY-MORNING-HERALD Multi-millionaire Sir Ron Brierley leaves a Sydney court in February.

Business tycoon Sir Ron Brierley has sold a 30 per cent share in an Auckland development while awaiting trial on charges of possession of child abuse material.

The Overseas Investment Office (OIO) has approved the sale of a 30 per cent stake in the Orams NZ Unit Trust from Brieley to Ariadne Australia Limited.

The purchase price was not disclosed. However, OIO records show when Brierley bought into the development, along with Ariadne, in June 2019, the total value of the transaction was almost $51.5 million.

The purchase takes Ariadne’s stake in the trust from 50 per cent to 80 per cent.