ON TUESDAY night (April 29), a meeting of leasehold apartment owners in Auckland’s fashionable Beaumont Quarter takes place that is likely to have repercussions in boardrooms across the city.
The meeting will be a critical turning point in a bitter dispute about how much ground rent the apartment owners will have to pay for the next seven years. But there is much more at stake than that.
Others who will be affected by the outcome include one of the country’s biggest property developers, a major bank, a fund manager, a prominent real estate company and a bevy of well-heeled private investors.
