Auckland developer expands into Queenstown market with purchase of 13 hectares outside Lake Hayes.
The restoration project, which dates back 11 years, will add a new ‘black box’ underground venue to the mix.
The personnel losses come as the global realtor moves to sublease about half its Auckland head office space.
Build-to-rent investment has fallen 90% over the past four years, with cost of debt shuttering institutional investment plans.
Property syndicator GEK Property looks to cash out at a $12 million premium to its purchase price eight years ago.
Tak Development is owned by the giant Japanese Takenaka Corporation.
Creditors and investors are owed an estimated $9m, with little expected to be recovered after a series of unfortunate investments.
The Kaipātiki local board has decided to retain a strong sports and community element at the AF Thomas Park, although finer details still have to be ironed out.
There are signals the office market is set for a rebound, getting back to levels last seen before the Global Financial Crisis.
Conservation Minister Tama Potaka says requests for proposals will close on April 20, with submitters still liable to meet DoC’s concession requirement.