New Zealand property tycoon, Sir Robert Jones, has bought his 18th prime office building in Wellington’s CBD with the purchase of Civic Assurance House for an undisclosed sum
Robt. Jones Holdings, owned by Sir Robert, has bought the 10-level, recently strengthened building on Wellington’s premier retail strip at 116 Lambton Quay from Civic Financial Services.
RJH was formed in 1961 and says it is New Zealand’s largest private office building owner with about 900 tenancies in Wellington, Auckland, Sydney and Glasgow. Its assets are worth more than $2 billion, the company says.
RJH Wellington general manager Aaron Leech said “Its location is a key attraction for us, with its appeal to the legal profession, embassies and other diverse activities.”
The deal was negotiated by Hamish Templeton and Richard Findlay of Colliers International in Wellington.
Lambton Quay was tightly held, where buildings rarely came up for sale, Templeton said. The building was close to the government sector, the courts and public transport, particularly the Wellington Railway Station.