Farhad Moinfar’s Citadel Capital is hoping to develop the Christchurch heritage building, with $4.9m being raised via a wholesale credit offer.
It is part of a consortium chosen as the preferred bidder to develop a former campsite in central Queenstown.
The liquidators are eyeing a potential claim against the company directors.
Office assets shone while retail struggled.
Infratil was unable to build on its strong start to investing in purpose-built student accommodation in Australia, so has opted to sell.
Secured creditors are likely to see a shortfall of $15m.
The possibility of lower interest rates might not be enough to halt a market correction, says economist Cameron Bagrie.
Wellington City Council is increasing its commercial property rates.
Property management boss predicts landlords will start cutting costs.
Sometimes it's good to see a positive outcome from the 2017/18 cryptocurrency bubble.