$27M paid for ‘hole’
PA Wellington Kupe Group yesterday completed purchase of Wellington’s famous hole in the ground - the former chief post office site in the central business district. Managing director Mr Stephen Girdis handed a cheque for $24.25 million to associate Minister of Works, Mr Peter Neilson, this being the balance of the $27.25M
(or $8637 per sq m) paid for the 3155 sq tn site. Kupe is to build a SI7SM office and hotel development on 26 levels. The 250-room Parkroyal hotel will be operated by Southern Pacific Hotel Corp. The development is planned for completion by the end of 1989.
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Press, 24 September 1987, Page 27
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103$27M paid for ‘hole’ Press, 24 September 1987, Page 27
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