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
Most listened to
- National's 10% poll jump isn't believable - but the party's support does seem to be holding up
- Nevil Gibson's Editor's Insight names those most affected by the phase-out of ETS subsidies
- Restaurant Brands' Ted van Arkel explains why the market is tougher in Australia
- Forsyth Barr's Rob Mercer on the New Zealand sharemarket's departure from fundamentals
- Sunday Business with Andrew Patterson