SUNBIZ

Bayleys No Longer The Agent For WG Plaza

The developers of the 28-sto­rey WG Friendship Plaza on McGregor Road, Suva have suffered a setback. The building’s marketing and sales agent, Bayleys Real Estate (Fiji) Limited, has withdrawn from
28 Aug 2018 10:00
Bayleys No Longer The Agent For WG Plaza
The WG Friendship Plaza on McGregor Road, Suva. Photo: Simione Haranavanua

The developers of the 28-sto­rey WG Friendship Plaza on McGregor Road, Suva have suffered a setback.

The building’s marketing and sales agent, Bayleys Real Estate (Fiji) Limited, has withdrawn from its role, citing “unacceptable” pur­chase terms.

Developers WG International Real Estate Co. (Fiji) Limited, a lo­cally-registered Chinese company, say the two could not agree on con­tractual terms.

Bayleys managing director/part­ner Philip Toogood says the firm could not ask purchasers to meet the demands of WG International.

“We were not happy with the terms of the purchase,” Mr Too­good said, referring all other ques­tions to the developers.

When contacted, WG Internation­al spokesperson and project vice-general manager William Wu said Mr Toogood had no time to attend meetings.

But Mr Toogood has rejected the claim.

“It’s got nothing to do with being busy – I’ve attended 12-15 meeting since February,” he said.

“WG International is against our policy that deposits be held in trust accounts and not be used – so we have decided to pull out.”

The 28-storey building is going to feature premium apartment blocks, office spaces and a luxury hotel.

Construction is forecast to com­plete in 2019.

Mr Wu says they will now market the building on their own.

Bayleys pulling out has added to WG International’s series of chal­lenges.

In a July interview, Mr Wu said cultural barriers, shortage of skilled labour and lack of support from Government departments had affected construction.

Mr Wu also said the company is running $10-20 million over-budg­et.

Feedback: sheldon.chanel@fijisun.com.fj

 

 

 



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