Pacific Tower
Christchurch
Commencement - Sep 2008 Completion - Nov 2009
Construction Value - $48M Development Value - $70M
Opened early 2010 as the Rendezvous Hotel, this is the newest and tallest building in the South Island and offers outstanding green credentials.
As a consequence of the main contractor going into receivership this project became seriously behind programme, thus exposing the developer to significant liquidated damages from the hotel lessee. The developer was also exposed to considerable additional costs arising from the receivership, these costs needed to be mitigated.
Greenstone Group was appointed to conduct a project audit, re-structure the project and to provide on-going direction and leadership. Greenstone Group appointed a replacement contractor, and facilitated the secondment of a project manager, cost manager and superintendant for the continuing management of the project, all under the overall direction and leadership of Greenstone Group as Project Director.
Greenstone Group managed to maintain project momentum throughout this process by successfully balancing and managing the risks of the developers and the financiers.
Greenstone Group services undertaken on this project: