Field of dreams in revamped quarry

St Laurence Property & Finance, and two private joint venture partners, John Abel-Pattinson and Kevin Cox, owners of Greenstone Group, are selling 8ha of Mt Wellington land on which a $300 million retail, office, health and lifestyle development is being built.

Development of Lunn Ave - in the centre of the Auckland isthmus that overlooks the huge Stonefields residential development - has been started, but the joint venture is being dissolved and the partnership wants to extract the value from its work in establishing a masterplan and obtaining consents.

The development, dubbed LA Central after the initials of Lunn Ave, includes five separate sites: two blocks of vacant land, a fresh food precinct, 1.5ha leased to Waste Management, and 2.5ha earmarked for a Mitre 10 Mega store and possible home DIY precinct. The owners decided to put the entire land holding on the market through Colliers International.

The property is being sold in five separate parcels that can be bought individually or together by private treaty with offers closing on April 8.

To read the full NZ Herald article click here

Posted: 21 Feb 2009

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