Spark sells Mayoral Drive car park to developer for $26.5 million

Fri, 15 Jul 2016

By Sophie Boot July 15 (BusinessDesk) - Spark New Zealand will sell land it had been using for car parking in Auckland for $26.5 million. The property, on Mayoral Drive, will be sold to Miland, which is working with a prospective anchor tenant to develop the site, Spark said. The transaction does not impact Spark's ownership or operation of the Mayoral Drive exchange, it said. The transaction is subject to resource consent and is expected to complete on March 31. The shares rose 0.4 percent to $3.715 today. (BusinessDesk)

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