Sky Network Television has sold its Mt Wellington properties for $56 million to Goodman Property Trust.
Sky Network Television has sold its Mt Wellington properties for $56 million to Goodman Property Trust.
Photo: RNZ / Dan Cook
The pay television service said the conditional sale of the three properties that made up Sky's Mt Wellington campus followed a competitive bidding process
The agreement included a 10-year leaseback of Sky's Studio One building, which housed core production and technology facilities.
There was also a five-year right of renewal, and an option for Sky to exit any time after five years.
The sale was part of Sky's review of its capital structure, which was ongoing, with details to be announced as part of the first half result.
The sale was expected to be settled by mid-February 2022, subject to conditions, which included an environmental assessment.