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.
The company has let three directors go to cut costs and make way for one from Centuria Capital.
Augusta Property Fund’s $89m transaction was cancelled on March 27.
Covid-19 is considered a force majeure under the agreement with central government.
The buyer isn’t yet known, as Charter Hall pockets $36.9m.
The property fund has lost deposits on two property acquisitions.
The property fund wants to get its LVR out of the low 40% range.
It expects to settle a $140m acquisition on Thursday.
The Property Council says the group's letter was “inflammatory and out of context”.
Variable rent programmes mooted as a solution to keep businesses afloat.
