Pass Go: collect a prime Auckland hotel and blue chip tenants

Mayor Wayne Brown opens the new hotel development. (Photo: IHG)

Wed, 31 Jan 2024

If it were on a Monopoly board, One Queen St on Auckland’s waterfront would feature as the most desirable card.Throw a six-floor upmarket hotel onto the address, just redeveloped by New Zealand stock exchange-listed Precinct Properties at a cost of $310 million, and you have the perfect high-yield commercial asset.The objective, as with the game of Monopoly, is to get players to land on the space.That’s already happened, with cornerstone tenants Deloitte taking naming rights for its six floors and law firm Bell Gully shortly moving...

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