Big Sky sections up for tender

Twenty-six rural lifestyle sections north of Alexandra in Central Otago are on the market as part of a mortgagee sale. The sections relate to a failed subdivision undertaken by companies associated with Christchurch developer Paul Graeme Martin.

Those companies, including Big Sky Developments, Springvale Creek, Clyde Developments, Turtle Soup, Central Otago Water Company and Lake Te Anau View were placed in liquidation in 2008 owing more than $5 million.

Big Sky was behind the development of 50 4.4ha lifestyle lots, of which about half were sold to a related party, according to liquidation reports. The remaining 26 sections, covering 227ha are being marketed by Colliers, with a deadline for private treaty closing at 4pm, August 28.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6994 0.0006 0.09%
AUD 0.9370 0.0001 0.01%
EUR 0.6372 -0.0003 -0.05%
GBP 0.5327 -0.0012 -0.22%
HKD 5.4260 -0.0025 -0.05%
JPY 74.2970 0.2180 0.29%

Commods

Commodity Price Change Time
Gold Index 1323.4 -8.590 2016-07-22T00:
Oil Brent 46.1 -0.800 2016-07-22T00:
Oil Nymex 44.2 -0.500 2016-07-22T00:
Silver Index 19.7 -0.130 2016-07-22T00:

Indices

Symbol Open High Last %
NZX 50 7226.1 7226.1 7226.1 -0.03%
NASDAQ 5078.1 5103.5 5073.9 0.52%
DAX 10130.5 10181.2 10156.2 -0.09%
DJI 18524.2 18571.3 18517.2 0.29%
FTSE 6699.9 6735.9 6699.9 0.46%
HKSE 21913.0 21972.9 22000.5 -0.16%
NI225 16612.9 16691.8 16810.2 -1.09%
ASX 5512.6 5512.6 5512.4 -0.26%