Building and Brierley sell Auckland quarry

Settlement is scheduled for later in the year for $38 million, higher than current carrying value

The site, which is one of the largest blocks of undeveloped land in greater Auckland, has been sold to Landco Mt Wellington.

Fletcher Building and BIL have owned it on a 50/50 basis since the late 1980s and says the sale followed a decision by both companies not to proceed with development proposals for the site.

Fletcher Building says it has quarried the majority of the site but has been progressively developing alternative sources of aggregates supply over the past 5 years in anticipation of its closure.

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