Court finds developer misled Hong Kong lender over Epsom Central apartments

The building in Auckland's Epsom was half-completed. (Image: Colliers)

Mon, 26 Feb 2024

A Hong Kong investment company has gone to court alleging elusive property developer Shane Zhou was misleading after it lent his Sky Stone Group roughly $4.7 million for its abandoned apartments.Zhou, who also went by the name Xin, was behind the six-storey apartment development in the Auckland suburb of Epsom, which sat abandoned for nearly four years until receivers were appointed and a mortgagee sale was conducted last year.As BusinessDesk previously reported, Epsom Central Apartments LP (ECAL) was set up to run the development with Sky Ston...

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