Millennium & Copthorne Hotels New Zealand (MCK) has confirmed that it will proceed with purchasing land in Whangarei to develop a hotel.
The agreement to purchase the land in the Whangarei central business district is now unconditional.
The company's managing director, Stuart Harrison, said the decision was based on the conclusion that there was sufficient demand in the Northland market for a new four-star hotel of international quality.
The build of the hotel is expected to take place over the next few years.
The transaction is set to settle by Aug 29, with MCK using its existing cash on hand to fund the purchase.
MCK also expressed its intention to continue exploring other opportunities across NZ.
Whangarei Mayor Vince Cocurullo welcomed the development, noting the need for a four-star hotel in the city centre.
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