Business

FNPF Enters into Deal to Buy Mercury House

RACHNA LAL SUVA The Fiji National Provident Fund has entered into an agreement to purchase the Mercury House from FINTEL. Fund chief executive, Aisake Taito, confirmed this. Declared a National
28 May 2014 10:23

Amenities include: nSpacious car park and lawn nConference room nKitchen facility nBack-up generator Services include: n24 hours security nCleaning services

RACHNA LAL
SUVA
The Fiji National Provident Fund has entered into an agreement to purchase the Mercury House from FINTEL.
Fund chief executive, Aisake Taito, confirmed this.
Declared a National Heritage Site, Mercury House was built in 1925 and is located at the corner of Victoria Parade and Town Hall Road in Suva City.
Mr Taito said the property, which is almost 3000 square metres freehold property, sits on a prime location in the city’s central business district (CBD).
“It has the potential to generate good returns for our members.  The site also has redevelopment opportunity,” he said.
“Note that this investment provides FNPF the opportunity to grow the portfolio in line with the FNPF Reform.
“It also generates better returns than deposit rates and adds to the fund’s investment in growth assets.”
Mr Taito said the fund is still liaising with potential tenants so that renovations are done to accommodate their requirements.
The property has two floors with all around balcony and built from solid concrete and hardwood.
The property also includes a separate building that can be used as a training or conference room.
Feedback:  rachnal@fijisun.com.fj
ALSO READ
Members’ contributions unidentified  >P11



5SQRS Clearance


Fiji Sun Instagram
Subscribe-to-Newspaper