At 7 down and just one sale, City Sales’ final apartments auction for the year was looking a grim affair.
Published 14 February 2011 By chance, as I was awaiting the start of this afternoon’s 4-hour Auckland Council meeting on rates & a few other things, including Maori representation, a real estate agent told me: “You left out the carpark.” The agent was trying to sell an apartment on the same floor of the Metropolis […]
1700 bondholders waiting for extra 7% which is unlikely to come Andrew Krukziener has defaulted on his $21 million of Metropolis bonds but is working on a compromise scheme for the 1700 bondholders. The trustee for the Pacific Properties (Metropolis) Ltd bonds, Glenn Clark of Tower Trust, served the demand on the issuer today. The […]
Trustee says new prospectus should be ready late October Metropolis developer Andrew Krukziener hopes to have a proposal ready for consideration by bondholders in the second half of October, Tower Trust general manager Glenn Clark told the 1700 bondholders in a letter sent out last Friday. They were to have been repaid their $21 million […]