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SkyCity Entertainment Group Announces Acquisition Of NPT Interest In The AA Centre

13 Oct 2017  |  07:38:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: ACQUISITION OF NPT LIMITEDS INTEREST IN THE AA CENTRE

SkyCity Entertainment Group acquired NPT interest in the AA Centre, 99 Albert Street, Auckland for $47m. The Company and NPT entered into a conditional agreement on 31 August 2017, and the conditions have been satisfied. The acquisition is consistent with its intention to consolidate control over its Auckland precinct as part of the Auckland master planning being undertaken. The master plan, once completed, will incorporate opportunities for further hotels, apartments, food & beverage outlets, entertainment facilities and office spaces, with the aim of having a cohesive and integrated mixed-use entertainment precinct, and will ensure that it leverages the benefits of the increased pedestrian traffic flows anticipated following completion of the City Rail Link.

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