Seascape developer Shundi Customs 'hasn't got the money', builder claims

Seascape developer Shundi Customs 'hasn't got the money', builder claims
The Seascape tower in Auckland's CBD remains abandoned amid an entrenched dispute. (Image: Sylvie Whinray)
Maria Slade
Auckland’s abandoned Seascape tower will cost up to $200 million to finish, and its developer, Shundi Customs, hasn’t got the money to do it, the High Court has heard.Work ceased on the 56-level project three months ago amid an entrenched dispute between Shundi and China Construction NZ, the company constructing the building.The NZ Herald reported that a Building Disputes Tribunal adjudication decision on Aug 2 ordered the developer to pay China Construction $34m and paved the way for the builder to get a charging order over the pro...

More Property

Vector faces fresh complaint on unfair contract terms
Property

Vector faces fresh complaint on unfair contract terms

Vector faces more scrutiny over contract terms after Commerce Commission advice.

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs
Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs

A developer’s Fair Trading win against Vector feels like a loss.

Garth Bray 01 Jul 2025
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