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A $300 million property development is planned on the edge of the 110ha Mt Wellington quarry in Auckland.
Wellington's St Laurence Property and Finance and Auckland developers Greenstone Group have formed a joint venture to develop vacant land on Lunn Ave on the former quarry's rim.
Seven office blocks and a health/lifestyle development are ear-marked for the area and the backers are calling their project LA Central, using an abbreviation of Lunn Ave.
Phil Eaton, a Greenstone director, said the 8ha site was bought in 2005 from Greg Olliver's Landco and the buildings could take five years to develop.
Eaton said the land was owned by College Road Holdings, a company whose directors are Mike O'Sullivan and Kevin Podmore of St Laurence, Kevin Cox and John Abel-Pattinson of Greenstone and Deborah Miller of Remuera.
Auckland City has granted permission for the project and more than 1500 carparks will be developed.
Peter Garty, St Laurence's chief operating officer, said the land was in one of Auckland's fastest-growing areas.
