Judge upholds $33m claim against Seascape developer

Judge upholds $33m claim against Seascape developer
Seascape has cost $300m to date. (Image: Jason Oxenham)
Maria Slade
Shundi Customs, the Chinese developer of Auckland’s abandoned Seascape tower, still owes the construction company at least $33 million, a judge has ruled.However, on Tuesday, Justice Greg Blanchard directed that the firm building the 56-level project, China Construction NZ, must register a guarantee from its parent company in China in favour of Shundi.The two Chinese companies remain in an entrenched dispute over what will be Auckland’s tallest building after the Sky Tower.China Construction NZ stopped work on the half-finished towe...

More Property

Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025
Senior Trust offeror gets a serve from FMA
Property

Senior Trust offeror gets a serve from FMA

Senior Trust has been paying returns with new investor funds and borrowings.

Maria Slade 26 Jun 2025
Du Val build-to-rent properties sold, PwC says
Property

Du Val build-to-rent properties sold, PwC says

The 171 units in May Rd and McKenzie Rd were bought in 2021 for $35m.

Maria Slade 23 Jun 2025
Auckland's multibillion-dollar midtown moment
Economy

Auckland's multibillion-dollar midtown moment

Auckland's midtown area is the target of several multibillion-dollar investments.