Hilton taking shape on historic hotel site

Photo / Supplied

Building work is under way at the once-failed property project next to the historic Terraces Hotel at Lake Taupo.

Work on The Terraces Hotel Apartments restarted after the venture went into receivership but the property was then sold to a group of investors instrumental in bringing Hilton to the area.

Construction on the partly completed block will see it become part of the Hilton Lake Taupo.

Grant Graham and Brendon Gibson, receivers for the Terraces Hotel Apartments, said when they took over last year the new building was only partly finished.

"It was a concrete shell when we were appointed. The developer's money had run out and work had stopped onsite for some time," said Graham. The Hilton Lake Taupo is due to open in October.