Delaware North takes 20-year sublease on Queenstown backpackers worth $27M in rent

Mon, 30 Apr 2018

By Jonathan Underhill April 30 (BusinessDesk) - Delaware North, a hospitality company based in Buffalo, has been cleared to take a 20-year sublease on land in Queenstown that's the site of the Pinewood Lodge, an investment that would generate about $27 million in rent. The applicant has a history of other investments in New Zealand and has proposed to inject capital and resources into developing the productive capacity and services provided by the Pinewood Lodge business operated on the land, the Overseas Investment Office said in a judgm...

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