Sole buyer of Invercargill state houses pulls out, stalling Government plans

  • The Government’s plan to transfer state houses to a non-government player in Invercargill is in disarray after the lone potential buyer pulled out.

The PACT group has withdrawn from the process to buy and manage 348 Housing New Zealand houses in the city “after the group decided the transaction wasn’t the best opportunity for them to achieve their aspiration of providing services to the community”, Housing Minister Bill English and Social Housing Minister Paula Bennett said in a statement.

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Buyer

JEFF TOLLAN/FAIRFAX NZ
Finance Minister Bill English details housing initiatives in his 2016 Budget.

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