Creditors vote to liquidate Gary Groves' Sanctuary

Creditors vote to liquidate Gary Groves' Sanctuary
The 90-unit luxury apartment development, The International.
Victoria Young
The company behind the glamourous The International apartment complex in Auckland’s Princes Street was moved into liquidation at a creditors’ meeting yesterday.Court documents viewed by BusinessDesk show Gary Groves’ company, Sanctuary Developments NO 8, owed $143.9 million at the time it secretly went into administration last year.Groves had taken the old Fonterra office building in Auckland’s CBD and converted it into a 90-unit apartment block.The luxury development is the home of celebrity chef Josh Emmett’s res...

More Property

Oceania shrinks footprint, prioritises balance sheet
Property

Oceania shrinks footprint, prioritises balance sheet

Oceania has divested four aged care facilities in the space of six months.

Gregor Thompson 22 Nov 2024
Paul Bary lobbies minister over Du Val BTR
Property

Paul Bary lobbies minister over Du Val BTR

Du Val Build To Rent assets could be sold early next year; investor Paul Bary unhappy.

Receivers ask Du Val founders: ‘Where are the assets?’
Property

Receivers ask Du Val founders: ‘Where are the assets?’

Du Val receivers say they have evidence of other assets they want information on.

Maria Slade 21 Nov 2024
Reasonable progress or pass the parcel?
Property

Reasonable progress or pass the parcel?

Opinions split over whether buildings are being earthquake-strengthened fast enough.