Million-dollar dumps: The Auckland car park worth $82.5 million
Downtown Auckland is going through huge transformation with its various streetscape and transport projects. But in stark contrast, several plots of land worth hundreds of millions of dollars have sat as car parks since buildings were knocked down in the 1980s.
The Elliott St car park sits on a 4417 square metre plot of land, valued at $82.5 million.
The land has sat undeveloped as a car park - where an hour will cost you $19 - since the Royal International Hotel was demolished in 1987.
It was purchased by Singapore company NDG Asia Pacific (NZ) Limited for $53m in 2012, and in 2017 the company was given approval by the Overseas Investment Office to build and operate a 52-storey, five- star Ritz-Carlton Hotel, with 300 guest rooms, four floors for hotel facilities, six for retail and five for car parking.
The development is expected to cost $350m, with the start of construction dependent on the completion of City Rail Link. However, the resource consent for the tower is due to expire in October.
Click 'read more' for our full story.
Poll: Do you think NZ should ban social media for youth?
The Australian Prime Minister has expressed plans to ban social media use for children.
This would make it illegal for under 16-year-olds to have accounts on platforms including TikTok, Instagram, Facebook and X.
Social media platforms would be tasked with ensuring children have no access (under-age children and their parents wouldn’t be penalised for breaching the age limit)
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Do you think NZ should follow suit? Vote in our poll and share your thoughts below.
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84.4% Yes
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14% No
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1.6% Other - I'll share below
Riddle Me This: Can You Out-Smart Yesterday’s Champ?
How can the number four be half of five?
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Does Your Organisation Need New Flooring?
Is the flooring at your school, early childhood, community or sports centre old and threadbare? Or perhaps you have a new space where there’s no flooring at all. Your organisation could be eligible to receive $2,000 + gst from the RhinoKids Flooring Fund to go towards new flooring. Plus, one lucky organisation will win a $20,000 flooring makeover!
Carpet Court is continuing its’ mission to help improve Kiwi kids’ learning environments by rolling out its’ nationwide fund for the fifth year in a row. Apply today!
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