The residential market faltered last year, while the listed sector retraced prior year losses, with more expected into 2026, analysts say.
Australian entertainment and hotels company EVT has picked up the first of the New Zealand Hotel Holdings eight-hotel portfolio.
Between them, these ‘Infamous Five’ have managed to destroy almost half a billion dollars from investors and lenders this year.
Sale is part of Infratil’s ‘legacy portfolio’ divestment strategy, with funds to be reallocated into its data centre developments.
Nook’s directors blame unpaid client bills for cashflow issues, while 160 creditors have been recorded.
The regulatory watchdog has received six concerns about the failed housing company but says it falls outside its scope.
Nine years on and the Onehunga residential towers remain unfinished, with the troubled development in the hands of receivers.
Liquidators were appointed to the modular housing company yesterday afternoon.
Statutory manager says it has ‘discharged’ second-tier mortgages as part of the sale process; not enough to repay lenders and will see Du Val investors out of pocket.
The directors of the modular housing company admit mistakes were made, while numerous customers have been left out of pocket.