Capital Properties expects to get the green light from the Government next month to start construction of the new Defence headquarters in Wellington.
Tuesday, July 20th 2004, 4:42PM
by The Landlord
Defence was going through its final approval processes and the $50 million proposal would hopefully go before the Cabinet about the middle of next month, chairman Colin Beyer told the annual meeting yesterday.
The 18,000-square-metre building on the corner of Mulgrave and Aitken streets in Thorndon, was due for completion by the end of 2006.
"We have a very strong balance sheet with ample ability to pay for the construction of the new building and we are currently considering repaying all or a substantial part of the 2005 notes from bank borrowings."
