News
Ground rent debate subdues prices

Thursday 23rd of August 2012
Many of the leaseholders have not had to pay anything for the past 15 years under a deal with Ngati Whatua o Orakei.
The rent-free period expired in 2012 and one German firm will now pay $848,000 a year for its office blocks.
Last week, an arbitrator ruled at the iwi land under the Parnell Terraces was worth $12.3 million. Owners of the apartments will pay 6% of that value each...
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