Ngunguru Sandspit Protection Society
Main Menu
All items
Key Resources
Articles by Topic
Other Coastlines
Human Interest
Photo Gallery
Contact / Donate / Join
Comment Page
Sandspit Prints
Secure Login Form

Lost Password?
No account yet? Register
Verse of The Day
“He teka ianei e kotiti ke ana nga kaiwhakatakoto i te kino? He atawhai ia, he pono, kei nga kaihanga i te pai.” (Proverbs 14:22)

Powered by
Recent popular items
Tutukaka Coast promo
Home arrow Human Interest arrow Local arrow Oceans Hotel a buyer's bargain
Oceans Hotel a buyer's bargain PDF Print
User Rating: / 1
Human Interest - Local
Written by Mike Dinsdale, The Northern Advocate   
Saturday, 10 January 2009

Oceans should have a new owner very soon.

The troubled Oceans Hotel and Apartments at Tutukaka could be sold within the next few weeks, but the receiver of the luxury complex admits it won't go for anything like the $20million plus it cost to build.

The owner of Oceans, Tutukaka Holdings Ltd, went into receivership in early August and the property is on the market as a mortgagee sale with real estate agents Colliers International, in Whangarei.

Russell Churchill, a director of receivers PricewaterhouseCoopers, said several parties were doing due diligence on the hotel complex, but at this stage no agreements had been signed.

He hoped there would be "something to report" in relation to a sale in the next few weeks. "I'm positive we will find a buyer," he said.

However, Mr Churchill conceded that any sale price was likely to be substantially less than the more than $20million it cost to build the complex in 2004 and 2005.

Full story...

Add as favourites (134) | Quote this article on your site | Views: 1944

Be first to comment this article

Only registered users can write comments.
Please login or register.

Powered by AkoComment Tweaked Special Edition v.1.4.6
AkoComment © Copyright 2004 by Arthur Konze -
All right reserved

Last Updated ( Saturday, 10 January 2009 )
< Prev   Next >


© 2018 Ngunguru Sandspit Protection Society
Joomla! is Free Software released under the GNU/GPL License.