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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Gareth Morgan wades into Awaroa beach
- Housing NZ directors get 63% pay hike
- PayPal ‘on shaky ground’ as it pulls service from second Netflix unblocker popular with Kiwis
- Showdown at the ETS corral - part one
- Auckland Council, James Hardie appeal ruling on leaky building claim made beyond 10-year limit
Most listened to
- Green party co-leader James Shaw and Business NZ's John Carnegie go head-to-head on the ETS review
- Cream Trading CEO Kevin O'Sullivan on why dairy companies might want to sign up to the new trading platform
- Paul Brislen on the merits of "cutting off the money" versus Netflix' technical attempts to shut-out unblockers
- Westpac's Dominick Stephens says dairy prices are still a major concern, despite El Niño fears fading
- London School of Economics Professor John Kay discusses financial regulatory shortcomings