Maria Slade

1 week ago | businessdesk.co.nz | Maria Slade

An American financier has failed in a bid to remove Damien Grant as liquidator of a South Auckland property development.New York-based Arena Alceon NZ told the High Court that Grant and his colleague, Adam Botterill, had not acted independently and impartially in the insolvency of Ormiston Rise and Ormiston Rise Development.But in a decision released on Wednesday, Associate Judge Dale Lester refused to sack them.“While I am more than satisfied there is at least the appearance that Messrs...

1 week ago | businessdesk.co.nz | Maria Slade

A multi million dollar luxury home associated with an Auckland developer who owes subcontractors for other projects is on the market.Last June, Aaron Ghee told 92 unsecured creditors owed $3.5m by his business, Sanctum Projects, to accept 15 cents on the dollar, or see the company go bust and get nothing.Nearly a year on, subbies are still owed the final payments agreed to in the compromise.Meanwhile, interests associated with Ghee have completed an architecturally designed home adjacent to...

1 week ago | businessdesk.co.nz | Maria Slade

A $15 million luxury home associated with an Auckland developer who owes subcontractors for other projects is on the market.Last June, Aaron Ghee told 92 unsecured creditors owed $3.5m by his business, Sanctum Projects, to accept 15 cents on the dollar, or see the company go bust and get nothing.Nearly a year on, subbies are still owed the final payments agreed to in the compromise.Meanwhile, interests associated with Ghee have completed an architecturally designed home adjacent to Auckland’s...

1 week ago | businessdesk.co.nz | Maria Slade

The rapidly growing area of Drury in South Auckland is to get a New World supermarket, following the purchase of land from developer Kiwi Property.Supermarket operator Foodstuffs’ purchase of 1.2 hectares at Drury represents Kiwi Property’s first sale of large-format retail land at the 53-hectare development.Kiwi Property told the NZX at its annual results announcement on Monday that the sale at an undisclosed price went unconditional in April.CEO Clive Mackenzie said it was great to confirm...

2 weeks ago | businessdesk.co.nz | Maria Slade

James Kirkpatrick Group’s proposed 11-storey building on Karangāhape Rd looks set to get a last-minute reprieve from Auckland Council.The property developer was headed to the Environment Court after being denied consent for the $100 million mass timber building near the new Karanga a Hape City Rail Link train station.Chris Bishop, the minister responsible for Resource Management Act reform, called the decision to reject the project because it was too large and out of keeping with the area...