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  1. #1
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
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    3,604

    Default Developer cashes up as credit crunch bites

    Sunday, 12 October 2008

    Property developer Jamie Peters is selling off some key assets as the credit crisis crunches the property sector.

    The Sunday Star-Times understands Peters is to sell the massive Victoria Quarter development site in Auckland's CBD and the freehold land under the Sofitel Hotel in Queenstown.

    Other assets that Peters has recently put on the market include Grasmere Station, his 625ha high country retreat in the South Island, and his 20m luxury launch Regal Flyer.

    However, he will be retaining the sprawling Gulf Harbour development north of Auckland.

    Peters, a cousin of Foreign Minister Winston Peters, is the owner of Starline Group which has been behind some of the country's biggest property deals of the past few years.
    The rest of the article is here.
    Patience is a virtue.


 

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