Last week Geoffrey Kennedy (50) appeared in a Queensland court charged with possessing a marketable quantity of cocaine, having been arrested in Surfers Paradise following a joint operation between Australian police and German authorities.
The case was adjourned until September 16.
In mid-July Mr Kennedy told the Otago Daily Times the 580sq m two-storey building in King Edward St was expected to be complete by next month, saying there had already been some interest by prospective tenants.
Since Mr Kennedy's arrest there has been speculation in the construction sector about the future of the development.
No spokesman of the primary construction contractor Calder Stewart was available to comment until next week.
This week the site, which was formerly occupied by residential housing and a retail shop, has been locked and was deserted.
It was understood, but not confirmed, there was still interest from parties in leasing the premises when completed.
