$215M joint venture
Excavation for the $125 million Karangahape project in l Auckland begins next week following the signing I in Auckland on Wednesday of agreements for funding the development. The Karangahape Joint Venture! partners, Baker Group * Corporation and Aw New Zealand Investments, i had previously signed agreements form-
ing the joint venture in Sydney in late February. It I is the first venture property project in New Zealand for ANZIL whose ; principal ; shareholder is I Hong Kong investor Ms i Sally Aw Sian. The Karangahape Joint Venture is to be managed by Baker Developments. The joint! venture has bought the I last two remaining vacant sections
on the site to consolidate the entire second block and has gained approval to close Mahon Street. A tunnel under Mahon Street will [ connect the development’s car parks. ■ | Mr Bell-Booth said that Mahon Street, would remain open until two way traffic had been restored to Howe Street and [traffic lights installed.
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Press, 5 March 1988, Page 27
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158$215M joint venture Press, 5 March 1988, Page 27
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