Du Val's Lakewood partnership owes $10.2m

The 151-unit Lakewood is in Manukau. (Image: Colliers)

Thu, 27 Apr 2023

Lakewood General Partner – the development vehicle for Du Val Group's 151-apartment Lakewood Plaza in Manukau, now in liquidation – owes $10.2 million to its creditors.The venture, the general partnership of the Lakewood Plaza Limited Partnership between the developer and wholesale investment company Du Val and Downey Construction, moved into liquidation on March 13. Du Val's chief executive, Charlotte Clarke, told BusinessDesk the application to liquidate the general partnership at the time was part of "the normal...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZX 50 locks in 1.22% gain on high volumes

Restaurant Brands gained over 65% after a takeover notice.

Gregor Thompson 30 Sep 2025

Retail

Finaccess bids to bucket KFC-owner Restaurant Brands

Finaccess Restauración wants the rest of the shares at $5.05 apiece.

Gregor Thompson 30 Sep 2025

Finaccess bids to bucket KFC-owner Restaurant Brands

Markets

ComCom gives provisional nod to Huntly deal

It comes on the eve of Govt decisions on the electricity market.

Ian Llewellyn 30 Sep 2025

ComCom gives provisional nod to Huntly deal

Sponsored

The double edge of AI in cyber security

Artificial intelligence has the potential to become both a lifeline and a liability for modern organisations, as a revolutionary tool capable of spotting threats at lightning speed, but also the ultimate weapon in the hands of cybercriminals.

Spark

Sponsored

AI agents: opportunity or graveyard? Spark’s five-point playbook for success

Artificial intelligence agents – autonomous digital entities that analyse data, automate decisions, and act independently – are set to drive a new wave of business transformation.

Spark Enterprise