Ormiston Rise, a South Auckland property development, has gone into receivership, NZ Herald reports. This leaves people, who had signed contracts for hundreds of new homes, “in the lurch” and panicking about their future. Nevertheless, receivers have assured purchasers that their cash is safe and they are working with the intention of completing the development. Ormiston Rise was set to be delivered in stages and is a combination of KiwiBuild and private sales.
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