The Watermark Christmas 2008 News!
With the 2008 working year now drawing to a close and the festive season in full swing, one would expect things to be slowing down for the year...
Well this wind down process has definitely not yet started for the Land Equity team - the office is still very much a hive of activity!
This is our final opportunity to update you on the 2008 milestones for The Watermark, along with wishing you a very Merry Christmas and a happy New Year.
- The project team has been working solidly since early December with our funders, legal consultants and other external providers to complete funding documentation. We expect to have this completed by early February 2009.
- We have now agreed a fixed price for the construction contract with Hawkins Construction Limited. Work is programmed to commence onsite in February 2009 with the building fully complete by mid 2011.
- The hotel management agreement was formally signed in late November, appointing Warwick Angus's (Bolton Hotel) management company as the hotel operator.
- Following on from the demolition consent for the Wellington Markets building, the next scheduled building consent was lodged with Wellington City Council in October. Further consent applications are due to follow in the new year.
- Despite not actively marketing The Watermark since September, buyer enquiry is still being received and sales are continuing to be made. We expect the level of enquiry and subsequent sales to increase upon commencement of construction in February.
- The second purchaser design update (scheduled for November 2008) has now been timetabled for March 2009. This will include options for carpet colour and wallpapers, along with timber veneer, kitchen bench tops and Poliform preferences.
From all of us here at Land Equity, have a relaxing and safe Christmas and New Year break. We look forward to seeing you in 2009; it promises to be an exciting year!
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