Hotel sold for $1.6 million
The New Albion Hotel in Colombo Street has been sold to a Christchurch development company for $1.6 million. • Industrial Holdings purchased the hotel earlier this week. Final settlement is expected later this year. A building in modern Style is expected to be built on the hotel site. Another Christchurch property developer, Cooper and Associates, expressed interest in the site earlier this year and had plans to maintain the New Albion’s facade.
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Press, 19 June 1987, Page 6
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76Hotel sold for $1.6 million Press, 19 June 1987, Page 6
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