$300m resort sale
Friday July 27, 2007 The New Zealand Herald
Property developer Nigel McKenna said yesterday he had sold a third of what will be a billion-dollar development at Kawarau Falls Station near Queenstown.
In one of the largest property transactions negotiated in New Zealand, British-based BlueSky Capital will invest more than $300 million in Melview Developments' resort.
McKenna said the Overseas Investment Office had approved the investment, which includes the five-star boutique Westin Hotel, the 221-room Intercontinental, plus a 197-room serviced apartment hotel. The properties are part of the 13 separate buildings which comprise the resort.
Excavations had begun and at its height the project would employ 800 workers.
The acquisition is the first to be made by BlueSky Capital's Global Destinations Fund I, which intends to invest in a portfolio of five-star hotel and resort real estate assets in the Pacific Rim.
Resort hailed as biggest project since Clyde Dam - August 2 2007, Business Day
Youngsters brave downpour to get closer to nature - August 1 2007, North Yorkshire News
$300m in Kawarau Falls – July 27 2007, The National Business Review
Resort investor adds $300m to development - July 27, 2007, Otago Daily Times
McKenna sells third of a billion dollar Queenstown development - July 27 2007, Globalkiwis.com
Approval for big resort investment - 27 July 2007, The Press by David Williams
UK fund earmarks $300 million for Queenstown development - July 26 2007, The National Business Review By Tamsyn Parker
BlueSky Capital to Buy Four Hotels in Queenstown, New Zealand - July 25 2007, Bloomberg By Tracy Withers
McKenna sells third of a billion dollar Queenstown Development - July 25 2007, TMC Net
Youngsters put nature project in picture - July 25 2007, Northern Echo
Approval for big resort investment - July 7 2007, The Press
A little place for that greener getaway - May 22 2007, The London Paper
Green Light - April 7 2007, GNER Livewire Magazine
North Yorkshire’s natural place to retreat from it all - March 25 2007, The Guardian
Great green getaways - February 22 2007, Pure Yorkshire
New wave eco-lodges - February 11 2007, The Sunday Times
New company to take ‘green’ lodges design idea nationwide - February 7 2007, North Yorkshire News
Encouraging the Natural way to enjoy a holiday - February 6 2007, Yorkshire Post Business
Richard Hammond’s clean break Aislabeck, Yorkshire - February 3 2007, The Guardian
Next year I want to……..be greener - December 30 2006, The Guardian