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New Zealand-based Fletcher Building Limited (ASX:FBU) has inked a deal to construct a new office building in Auckland’s Wynyard Quarter.The building and manufacturing supplier says its construction arm will work on the property which will include retail and office space and carparks.Upon completion a joint venture (JV) between Goodman Property Trust (NZE:GMT) and Singapore’s sovereign wealth fund have agreed to buy the asset for about $AUD83.7 million.Goodman will also finance the construction of the building through a funding deal with Fletcher and funding will be repaid on settlement of the completed building.Fletcher Building reported a net profit of $113 million in the first half of the 2015 financial year.
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