Wellington, 20 November 2015 – The outstandingly presented 68 Jervois Quay, better known as Datacom House, was recently sold by CBRE’s Bill Leckie and Matthew St Amand, on behalf of Cornerstone Investments Limited.
Peter Dowell, Director of Cornerstone Investments Ltd says, “We recently undertook an extensive refurbishment to the building. This along with the buildings prime CBD location made for a rare investment opportunity which we knew CBRE would present to the right vendors.”
The property features quality office space with extensive harbour views, and is currently 97.71% occupied; well above the Wellington average. It is prominently situated on the corner of Jervois Quay and Harris Street; a location which affords excellent exposure and offers uninterrupted panoramic harbour views from all office levels.
Bill Leckie, a Senior Director in CBRE’s Capital Markets team says “We are pleased we could achieve this result for Cornerstone Investments Limited. We look forward to continuing our relationship with them as they have a keen interest in the Wellington property market, specifically around waterfront property.”
CBRE opted to run an off market campaign for Cornerstone Investments Ltd. following the property unsuccessfully going to market last year. Their successful strategy resulted in a sale circa $47 million to an Australian institutional vendor.
Matthew St Amand, Managing Director of CBRE’s Wellington office says, “Australians continue to be the major foreign investors in New Zealand.”
Cornerstone Investments Ltd Director, Andrew Cotterell says “We are looking forward to working closely with Matthew and Bill on future opportunities in the Wellington market.”
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.