Augusta buys Lufthansa house in Auckland CBD for $16.5M

Augusta Capital, the listed property and funds manager, has bought a 15 level building in central Auckland for $16.5 million from Cook Property Group.

The Auckland based firm has entered into an unconditional agreement, via its subsidiary Augusta Funds Management, to buy 36 Kitchener Street, which has a weighted average lease term of 1.8 years, it said in a statement. According to Cook Property Group's website, it currently owns the building known as Lufthansa House.

Augusta, formerly known as Kermadec Property Fund, owns four other commercial properties in Auckland, including the Finance Centre in the CBD, and has been reviewing its portfolio with a view to moving more assets into property syndicates rather than long-term investment.

Augusta shares last traded at 97 cents, valuing the company at $84.8 million, and have climbed 97 percent in the past five years.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PEB - Chair to Seek Re-Election; Director Nominations
Devon Funds Morning Note - 16 June 2025
TRU - Key Markets Update
THL receives unsolicited non-binding offer
June 16th Morning Report
CHATHAM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Radius Care Upgrades FY26 Outlook
June 13th Morning Report
June 12th Morning Report
PGW Governance Update