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.
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Staying home over the break?
The long weekend is the perfect time to make your place safer for an earthquake with these steps:
• Find out where you can turn off your water and gas mains
• Check your chimney for any signs of wear and tear, or damage
• Check your home's foundations are secured
• Move heavy items that are up high to safer, lower down locations.
• Secure tall and heavy furniture and appliances
These simple actions can keep your whānau safer in case of a big shake, so tick them off and make the most of your break.
Win a Paddleboard This Weekend
🏄♀️ Don't miss out on your chance to win a paddleboard worth $1,000 from adviceHQ! 🏄♂️
Join us at the Waipu Easter Carnival this Saturday 30 March, and stop by the Waipu Waterfront Estate stand, where we are proud partners. Simply drop by to enter for your chance to win. See you there! 🌊
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