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Luxury developer leaves creditors $70m short
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The International s developer calls for voluntary administration, can t pay all creditors
18 Feb, 2021 02:49 AM
3 minutes to read
Gary Groves from the Sanctuary Group is developing the 90-unit project called The International on Princess Street. / Dean Purcell
Gary Groves from the Sanctuary Group is developing the 90-unit project called The International on Princess Street. / Dean Purcell
The developer behind one of New Zealand s biggest apartment jobs The International has put the company into voluntary administration, saying not all creditors will be paid.
Gary Groves engaged Dominion Constructors to convert the ex-Fonterra headquarters at 9 Princes St in Auckland s CBD into luxury apartments in a $250 million job and Donald Trump ex-aide Chris Liddell was said to have bought an apartment there for around $15m.