Wellington Parkroyal Hotel settlement a step closerFebruary 7, 2001 The settlement for the sale of Wellington’s top hotel, the Wellington Parkroyal Hotel, has moved a significant step closer with the subdivision resource consent approved by the Environmental Control Business Unit, the regulatory arm of the Wellington City Council. The sale of the hotel to Bass Hotels and Resorts did not include the adjoining IBM Centre and therefore a critical part of the sales process was the gaining of a resource consent to enable separate titles to be drawn up and walkways and easements created. Robert Lang, Executive Manager of the AMP NZ Office Trust (ANZO), said: “We have been very impressed by the efficiency of the Wellington City Council’s Environmental Control Business Unit (ECBU). They recognised the commercial deadlines that needed to be met and facilitated the process. Due to their efficiency the settlement for the hotel is on track for around the middle of this year,” Mr Lang said. Derek Fry, Manager of the ECBU said: “The ECBU sees its role very much as one to promote enterprise and recognise business deadlines and processes within the Council’s planning regulations. We have been particularly happy to facilitate the sales process of such a significant asset of the city and to meet the business deadlines of ANZO, one of Wellington’s largest property investors.” Truebridge Callender Beach acted for ANZO in lodging the subdivision consent. ANZO is New Zealand’s top listed commercial office trust, comprising a portfolio of six premium properties in Auckland and Wellington, valued at $460 million. ANZO is managed by AMP Henderson Global Investors, New Zealand’s largest private property investment manager with a $1.4 billion of property under management. For further information contact: Derek Fry, Manager ECBU, Tel (04) 801 3487 |