KEY POINTS:
SkyCity Entertainment has a deal to sell its eight-level SkyCity Metro entertainment and retail complex in Auckland to an Australian company for around $50 million.
But the deal on the Queen St property is yet to be finalised because the buyer is still doing due diligence.
SkyCity's general manager capital projects, Bryce Morrin, said he expected arrangements to be settled soon with an announcement towards the middle of next month.
"There's a conditional contract on it and I had hoped the announcement would be by the end of this month but we've had to give extensions. We're in the hands of the people who are buying it."
The buyer is checking on more details of some of the 30-plus tenancies and other aspects of the property which houses SkyCity Cinemas, an Imax theatre, a Borders bookstore and bars, food outlets and a games arcade.
Jones Lang LaSalle managing director Peter Coman refused to comment on any aspects of the deal, except that he had acted for SkyCity.
Who goes there?
* SkyCity Metro draws 6.7 million visitors a year.
* They are office workers, tourists, shoppers and tertiary students.
* They generate sales so tenants can pay more than $4 million annual rent.
* The SkyCity Metro complex in Queen St is expected to sell for $50 million to an Australian company.
