TV3 HQ for sale

Press, 6 December 1989, Page 45

TV3 HQ for sale

PA Auckland TV3’s Eden Terrace headquarters is up for sale. The property is one of four being sold by the owner, Amberton Properties, formerly Goldcorp Holdings, which goes into liquidation this month. TV3 moved in early last year, but the lease agreement was signed only two weeks ago, after delays surrounding terms of the lease. TV3 offered to buy the building, conditional on raising finance, early last year. According to the ■solicitor for Amberton Properties, Mr Bruce Tunnicliffe, when the money was apparently not available a lease was suggested while TV3 organised finance. Mr Tunnicliffe said TV3’s lease was always supposed to be a prelude to buying the building.

TV3’s chief financial controller, Mr James Lockerbie, said he learnt about Amberton’s liquidation on Friday, and TV3 was now having a valuation done in conjunction with Amberton.

That might or might not be a prelude to purchase, he said. The lease contained an option to purchase, and the formula for the sale was the market value less the value of improvements. There would be no change to terms of the lease if a third party bought the property. The three other Auckland properties for sale are a car yard on Great South Road at Otahuhu, a Te Atatu property valued at about $BOO,OOO, and the Kodak building on Cook St.