Construction on the $300 million project began in 2017 and was originally expected to be completed in 2021.
Photo: RNZ / Ziming Li
A “for sale” sign is going up on the partially completed Seascape tower in Auckland’s CBD, once set to become New Zealand’s tallest building.
Bayleys Real Estate has been engaged by receivers Calibre Partners to sell the 56‑storey tower on Customs Street East, after construction was halted in August 2024.
An international sales campaign, in conjunction with agency Knight Frank, is expected to launch in the next couple of weeks.
If completed, the luxury development would stand at 187 metres, making it the country’s tallest residential building.
Bayleys chairman and managing director Mike Bayley said a sale would allow new capital to step into a well‑advanced project, materially accelerating the pathway to completion compared with a ground‑up development.
“Seascape represents a unique control opportunity at an inflection point,” Bayley said.
“The development has progressed beyond the most time‑intensive stages, allowing future investment to focus on delivery, optimisation and value creation.”
Construction on the $300 million project began in 2017 and was originally expected to be completed in 2021.
However, Covid‑era disruptions, escalating costs and technical issues delayed progress for several years.
The tower was structurally “topped out” in 2024, meaning the main frame was completed, but the façade and interior fit‑out remain unfinished.
Work stopped in August 2024 following a legal dispute between the developer, Shundi Customs, and the main contractor, China Construction NZ.
A tribunal ruled Shundi owed the builder about $33 million, which was not paid.
Shundi Customs was placed into receivership in March this year.
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