Krukziener Properties and accountants Gilligan Sheppard are working together on two big Queen St property refurbishment projects.

Five shops in the existing eight-level 5000sq m building at 350 Queen St, on the Rutland St corner, have been replaced with 18 much smaller shops and leased to small businesses.

Further up Queen St, work is yet to start on the Queen's Head Tavern/ACG House building on the Mayoral Drive corner at 396 Queen St.

But resource consent has been given for big changes.


Bankrupt developer Andrew Krukziener is involved in both projects, owned by syndicates of investors who are clients of Gilligan Sheppard where former Shareholders' Association boss Bruce Sheppard works.

Krukziener, out of bankruptcy on December 15 next year, is not a director or shareholder and is not banned from working so has been active on the projects opposite Aotea Square and the Town Hall.

"It used to be a pretty dead corner but now 22,000 people a day walk past this point from 8am until midnight," Krukziener said outside 350 Queen St, showing how the building had unrealised potential.

Floors in what was DFC House are being refurbished and a school could shift in, he said.

At 396 Queen St, Krukziener said 15 shops would be built and sold on the ground level.

Upper floors of the 19-level tower would be refitted and new lifts installed, and the entrance will be changed to give better access to Queen St.

Both buildings were bought from a Korean investor.