45 days ago

Million-dollar dumps: The Auckland car park worth $82.5 million

Caroline Williams Reporter from Auckland Stuff

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.

More messages from your neighbours
19 minutes ago

Is New Regent St really NZ's most beautiful street?

Lorna Thornber Reporter from Stuff Travel

Hi everyone,
We're looking into how some common claims about NZ stack up and would be interested in your thoughts on whether New Regent Street in Christchurch deserves its title of 'NZ's most beautiful street'. Do you think it is the best-looking street in the country? Or is there another street you think is more beautiful? Please put 'NFP' (not for publication) in your comment if you do not want it included in an article. Thanks for taking the time to share your thoughts.

15 hours ago

Poll: What do you think of plans to restrict trawl fishing in the Hauraki Gulf?

Melanie Earley Reporter from Auckland Stuff

Kia ora neighbours, trawl fishing will be restricted and marine protection areas will be expanded almost threefold under a new plan to protect Auckland’s Hauraki Gulf.

Do you think the new restrictions are a good idea?

www.stuff.co.nz...

Image
What do you think of plans to restrict trawl fishing in the Hauraki Gulf?
  • 95.6% Yes it will help marine life
    95.6% Complete
  • 4.4% No it's too strict
    4.4% Complete
160 votes
A
2 days ago

Piano to give away

Anna from Remuera

Hi Everyone, We have a piano that has not been used for a long time. It is in working condition but may need to be tuned. Would be ideal for a family with children who are wanting to learn to play and do not have their own. We are not wanting any money for it however will need to be picked up from Remuera. Contact Anna 021753158.