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Augusta to settle Cook St deal today
/ Augusta News

31 OCT 2018 | THE BOB DEY PROPERTY REPORT

Augusta Capital Ltd said yesterday its transaction to buy 54 Cook St, at the top of the Auckland central business district, was unconditional and would settle today.

After leasing the former Radio NZ studios building to tourism company Jucy Group Ltd in September, Augusta decided to buy the building from the Augusta Value Add Fund No 1 Ltd to seed a tourism fund.

Jucy will operate a Snooze hotel business at the Cook St building. It’s better known operation is the Jucy rental vehicles business.

Augusta said it could proceed with the latest transaction, the purchase of the last unsold property held by the value–add fund, after the last condition, on the cost estimate, was satisfied.