$33m as a starting point (Independent Adviser's Report dated 9 June 2010), plus or minus a view on the outlook for the Hotel and Apartment property market?

Will be interesting to see where the market cap settles for this property portfolio.

Goldridge Resort (Queenstown)
One Riccarton Road Parkview Hotel (Christchurch)
Emerald Hotel (Gisborne)
Frankton Arms Apartments (Queenstown)