Million-dollar dumps: The Auckland car park worth $82.5 million
Downtown Auckland is going through huge transformation with its various streetscape and transport projects. But in stark contrast, several plots of land worth hundreds of millions of dollars have sat as car parks since buildings were knocked down in the 1980s.
The Elliott St car park sits on a 4417 square metre plot of land, valued at $82.5 million.
The land has sat undeveloped as a car park - where an hour will cost you $19 - since the Royal International Hotel was demolished in 1987.
It was purchased by Singapore company NDG Asia Pacific (NZ) Limited for $53m in 2012, and in 2017 the company was given approval by the Overseas Investment Office to build and operate a 52-storey, five- star Ritz-Carlton Hotel, with 300 guest rooms, four floors for hotel facilities, six for retail and five for car parking.
The development is expected to cost $350m, with the start of construction dependent on the completion of City Rail Link. However, the resource consent for the tower is due to expire in October.
Click 'read more' for our full story.
Poll: 🗑️ Would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
Aucklanders, our weekly rubbish collections are staying after councillors voted to scrap a proposed trial of fortnightly pick-ups.
We want to hear from you: would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
Keen for the details? Read up about the scrapped collection trial here.
-
0% Same!
-
0% Would have liked to try something different
Stand-Out Festive Decor: Build a Big DIY Nutcracker
Whip up a larger-than-life nutcracker and have it standing guard to greet guests this Christmas. This is an ideal opportunity to repurpose last year’s baubles, leftover Resene paint testpots and leftover materials from previous projects. You could use an old cardboard box for the body and cover it in fabric scraps. Find out how to make your own nutcracker with these easy step by step instructions.
Get painting and wallpapering - Sale now on at Resene ColorShops!
For a limited time only save the GST value on Resene premium paints, wood stains, wallpaper and decorating accessories at Resene ColorShops.
Loading…
