The deal is the first for major developments directly above two new underground stations on the 3.5-kilometre City Rail Link twin tunnels, which comprise the country’s costliest transport project at $4.4 billion.
The developer, Malaysian Resources Corporation Berhad (MRCB), has done the deal, which is one of the biggest in dollar terms negotiated for an Auckland Council-owned site.
The site on the corner of Mayoral Drive and Wellesley St had been an open car park for council vehicles, following the 2016 demolition of the former Griffiths Building, which had become unsafe.
David Rankin, chief executive of the council development agency Panuku Development Auckland, said: “MRCB has a long history of quality transport-oriented developments in Malaysia and is committed to transforming the Mayoral Drive site to appeal to those wanting vibrant inner-city living and a low-carbon lifestyle.”