Trans Tasman Properties buys cornerstone stake in Clearwater
Wednesday 4 August 2004
Trans Tasman Properties today said it had agreed to buy a "cornerstone" 34% interest in Clearwater Development in Christchurch for an undisclosed sum.
By The LandlordTTP chairman Don Fletcher said today he was very pleased with the investment and excited about medium-term commercial and residential opportunities within Clearwater.
He said TTP was looking forward to working closely with other Clearwater shareholders, John Darby, Michael Coburn and interests associated with Christchurch businesswoman and philanthropist, Diana, Lady Isaac.
Clearwater this week proposed a 1200ha conservation park, six times the size of Christchurch's famous Hagley Park, could be developed on a property adjoining the luxury Clearwater Resort if it was granted planning permission to increase its hotel rooms at Clearwater from 200 to 400 and residences from 30 to 200.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.