MANGONUI - One of the Far North's smartest tourist hotels, the Taipa Bay Beach Resort, may soon have new owners after more than two years in receivership.
Former owners Raptorial Holdings, of New Plymouth, and Taipa Bay Beach Resort Ltd called in receivers in August 1998 to manage the multimillion-dollar beachfront development.
A New Zealand company has now signed a conditional agreement with the Auckland receivers, Jeff Meltzer and Associates, to buy the 14-year-old, 31-apartment hotel, which was upgraded by the former owners in 1997.
Mr Meltzer would not disclose the identity of the potential buyer. But he said the intention was to "grow and build" the development once due diligence had been completed and the sale agreement became unconditional.
If the sale went ahead, it would be a big step forward for the resort, he said.
- NZPA
Buyer eyes troubled resort
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