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.
Riddle me this: Neighbourly edition!
What type of cheese is made backwards?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Poll: What special qualities should a 5-star New Zealand airport hotel at our largest international airport have?
Te Arikinui Pullman Auckland Airport is New Zealand’s only 5-star airport hotel, given its incredibly close proximity to the airport, the convenience of walking to the airport is a major highlight but there are plenty of other features that make it special.
-
3.2% Unmatched runway views with a private lounge
-
45.5% Exceptional service from arrival to departure
-
4.5% Gourmet dining featuring New Zealand's finest, celebrating Te Ao Māori kai
-
39.7% A soundproof oasis with all desired amenities
-
7.1% Māori culture reflected throughout, creating an architectural marvel
Loading…
