High court rejects bid for wider discovery on downtown car park sale

A render from Precinct Properties showing what the downtown car parking site could be redeveloped into. (Image: Precinct)

Oliver Lewis

Thu, 13 Jun 2024

An incorporated society challenging the sale of the Auckland council-owned downtown car parking building to Precinct Properties has suffered a legal setback.Last November, Precinct told the NZX it had entered a conditional agreement with council regeneration agency Eke Panuku to purchase the central Auckland property for $122 million and redevelop the site with two new high-rise towers.Settlement is due to take place at the end of 2025. Eke Panuku selected Precinct after a competitive tender process. It followed a December 2020 decision by...

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