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Ariadne Australia Limited ( (AU:ARA) ) has issued an announcement.
Westhaven Residential Limited Partnership, a 50/50 venture between Orams Residential Limited and PPNZ Westhaven Investment Limited in which Ariadne holds an indirect interest, has had its 188 Beaumont Street residential project in Auckland’s CBD accepted into New Zealand’s fast-track approvals process under the Fast-track Approvals Act 2024. While this referral streamlines regulatory assessment and signals governmental support for the proposed development, Ariadne cautions that it does not yet amount to development consent and that no final investment decisions or binding commitments have been made, with the project still subject to expert panel review and further statutory scrutiny.
The most recent analyst rating on (AU:ARA) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Ariadne Australia Limited stock, see the AU:ARA Stock Forecast page.
More about Ariadne Australia Limited
Ariadne Australia Limited is an investment company with interests in property and related ventures, including a 61% indirect equity stake in Orams Residential Limited, which is involved in residential development projects such as the 188 Beaumont Street site in Auckland’s CBD through joint venture structures.
Average Trading Volume: 51,916
Technical Sentiment Signal: Buy
Current Market Cap: A$97.04M
For a thorough assessment of ARA stock, go to TipRanks’ Stock Analysis page.