Pandeys pay record price for hotel
Highest price paid for hotel outside Auckland CBD.
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The Pandey family’s CP Group has bought the 247-room NovoteI/Ibis Auckland hotel at Ellerslie for a record $55 million in the face of strong offshore interest.
The sale is the highest price paid for a hotel outside the CBD, at a yield of 7.76%, and bucks the trend of foreign buyers snapping up
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Sally Lindsay
Thu, 15 Oct 2015
Thu, 15 Oct 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Pandeys pay record price for hotel
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