Receivers have put the boutique Queenstown hotel developed by the late Kevin Carlin up for sale.
The company and Catalist have agreed to pause its offer after an error was discovered in its information memorandum.
The company told investors the property it planned to purchase had a resource consent for subdivision when it did not.
The company claims a 38% targeted annual return in its Facebook adverts.
Millennium & Copthorne’s MSocial hotel seen as ‘very valuable property’ next to Eke Panuku and Precinct Properties’ downtown carpark development.
Property experts debate where the dust has settled on the traditional 9-5.
The global real estate firm has officially opened its first office in New Zealand.
Former ‘The Apprentice New Zealand’ boss’s Century City Hotel property went into receivership in March.
Unsecured creditors are owed $21m on the large South Auckland housing development.
The first liquidators report says it's unlikely unsecured creditors, who were owed nearly $5m, will be paid in full.