Showcase Auckland hotel Westin Lighter Quay in chaos
One of Auckland's top hotels, the Westin Lighter Quay, is in chaos as unit titleholders and receivers square off over access to and revenue from 114 of its 172 rooms and its bar, restaurant and retail areas.
As many as 100 lay-offs are tipped at the five-star development in Auckland's Viaduct Basin following High Court action by approximately 100 unit titleholders to cancel the leases on the 114 rooms.
Receivers Korda Mentha is acting as receiver for Bank of Scotland, the primary creditor to the $130 million development, which was undertaken by businessman Nigel McKenna, through his company, Melview Viaduct Harbour...MORE»
Housing consents fall31 August 2010
The residential property sector has slipped in July after edging into positive figures in the previous month, however commercial property development continued its precipitous decline. MORE» |
Economist pushes out dates for next OCR hikes29 August 2010
One economist has pushed out the date for the Reserve Bank’s next official cash rate hike citing recent downgrades to its forecasts for global GDP growth, including in Australia and New Zealand. MORE» |
Property investors need be careful with family trusts
Property investors need to take a more active role in overseeing their family trusts to ensure they are both compliant and achieving their objectives, according to New Zealand Trustee Services director Jonathan Cron. MORE»
Review may give investors some depreciation relief
Commercial and industrial property investors should still be able to claim significant depreciation allowances, an asset depreciation expert says. MORE»
Latest immigration numbers good for housing market
Immigration figures out today are stronger than expected and are seen as being positive for house prices. MORE»
Property investors targeting private sellers
An annual property survey shows that investors have slowed down with their buying and selling , for the first time in several years. MORE»
Dr Don's gloomy outlook for house prices
The world economy looks sick and if that continues it is hard to see house prices going up according to managing director of Huljich Wealth Management Dr Don Brash. MORE»
