Mansons cancels Spark building sale to Shanghai Pengxin

The Telecom headquarters on Victoria St, Auckland

Auckland property developer and investor Mansons TCLM has cancelled the sale of one of its big Spark buildings to Chinese buyer Shanghai Pengxin.

Mansons has now put the block back up for sale, asking $72.88 million.

Culum Manson said he had made that decision.

"I cancelled the sale of Building D. I cannot confirm who the buyer was," he said of the deal struck last year to sell the huge block now being marketed by Bayleys.

The block is one of four above Victoria Park, between Victoria St West, Dock St and Hardinge St and is on a 10-year lease to Spark New Zealand.

Shanghai Pengxin owns the former Crafar dairy farms and has a number of other investments in New Zealand, including Gulf Harbour north of Auckland and Queenstown's Hilton Hotel.

The A-grade Spark block on a freehold site has a 5 Green Star rating, was finished in 2010 and Mansons has agreed to provide a full 10-year defects and capital expenditure warranty