The Majestic Centre, Wellington’s tallest building, sold to South Africa’s Investec

Wellington’s tallest building, the Majestic Centre, has been sold to a subsidiary of a major South African investment bank for more than $123 million.

Kiwi Property, the largest property company listed on the NZX, have struck a deal with Investec Australia Property Fund, which is owned by Investec.

Headquartered in Sandton in Johannesburg, Investec is a significant investment bank and asset manager, which has long been the sponsor of Super Rugby. The purchase is believed to be the company’s first investment in New Zealand’s commercial property market.

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The Majestic Centre has been sold to Investec Australia Property Fund.

READ MORE VIA THE DOMINION POST

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