By Campbell McIlroy
Friday 17th March 2000 |
Text too small? |
The development will be the dominant landmark on Auckland's North Shore landscape. At 23 storeys high it will be the tallest structure north of the Auckland Harbour Bridge.
The hotel will comprise 249 studio or one-bedroom units, plus an additional six penthouses which will not be part of pooled accommodation.
The hotel will be managed by Castle Group, which has taken a 10-year management contract with a right of renewal for a further 10 years.
The main contractor for the development is Multiplex. Demolition on the site started on Wednesday, with piling due to start on Monday and the crane on site by the end of May. The 15-month construction contract is due for completion in June 2001.
Investment units are being offered with a guaranteed return of 8% for the first two years. After this, returns will be based on management performance but with a guaranteed minimum of 8% for the next three years and 6% for the next five years.
Already, 91% of the units have been pre-sold.
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens