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Land for a failed $2 billion property project near Queenstown has been put up for mortgagee sale.

Five Mile developer Dave Henderson's scheme for a new township at Frankton Flats is now an empty site which includes a large hole in the ground.

Apartments, offices, shops and light industrial and other buildings were to go on the site but the project failed in its initial phase.

To read the full NZ Herald story click here

Posted: 21 Feb 2009

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