Chris Gudgeon, chief exec' />

ASB's new headquarters in Auckland came a step closer yesterday after Fletcher Construction was appointed to build it.

Chris Gudgeon, chief executive of Kiwi Income Property Trust's manager, yesterday announced a number of moves on the project for the Wynyard Quarter waterfront site.

Kiwi is to develop the block for the bank. The controversial building, with its distinctive cone-shaped roof, will cost $126.2 million to build but have a projected completion value of $138.5 million, Gudgeon said.

The building is to go up on a 6500sq m site at the corner of Jellicoe St and Halsey St on leasehold land where a 90-year term has been struck with Auckland Regional Holdings.