The Overseas Investment Office has approved the $50 million purchase of the Bowen Campus in Wellington by AMP New Zealand Office.
Situated next to the Beehive, the one hectare campus, which includes the Bowen State Building and the Charles Fergusson Tower, has 30,000 square metres of lettable office space and resource consent to increase that to 60,000 square metres.
Settlement is expected before the end of June.
The sale needed Overseas Investment Office approval because AMP New Zealand Office is 28% owned by overseas investors.
