New Zealand’s SkyCity Entertainment Group has reached an agreement to sell off commercial properties located near its flagship SkyCity Auckland integrated resort for NZ$74.5 million (US$43.5 million) – part of a recently flagged asset monetization program.
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The company revealed Friday morning that it had agreed the unconditional sale of its 99 Albert Street office building and investment properties on Victoria Street to Mainland Capital, a Christchurch-based commercial property funds manager, in a joint venture with Russell Property Group. The expected settlement date is 1 September 2026.
“We are pleased that the sale of the commercial properties has progressed to an unconditional status,” said SkyCity CEO Jason Walbridge.
