By Farah Wahida:
Twenty-eight (28) year old Malaysian emigrant King Khoo recently bought Auckland Council’s North Shore headquarters near Takapuna Beach for NZ$71 million (RM184.63 million) — one of this year’s largest commercial property deals in New Zealand.
According to a report from The New Zealand Herald, the transaction also involved trading a luxury Belmont mansion.
Khoo, a former Takapuna Grammar School student who migrated from Malaysia 12 years ago, also owns one of the country’s most posh apartments, a two-level penthouse within the 30-storey Sentinel tower in Takapuna.
He bought the penthouse two years ago for NZ$5.2 million (RM13.42 million) and it is currently undergoing a renovation costing “a significant seven-figure sum,” said Khoo’s Associate James Kellow.
Kellow, Director of New Zealand Mortgages & Securities, arranged the financing for the council HQ.
Moreover, the penthouse in the Sentinel Tower is famous because one segment of ‘America’s Next Top Model’ was filmed there.
According to Khoo, he had lived near the Belmont mansion along Winscombe St when he was studying at Takapuna Grammar School. After graduation, he went to Auckland University where he took up marketing and management. After that, he “mucked around” and invested in real estate.
As the penthouse renovation is expected to be completed in about four months, Khoo is currently living in a rented condo unit.
Three years ago, Khoo also purchased one of New Zealand’s most iconic homes, the bunker-style mansion formerly owned by rich-listers Robin and Erica Congreve. Located on the clifftop overlooking the Takapuna Grammar School, the house was also designed by Pip Cheshire, one of the country’s leading architects.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email firstname.lastname@example.org