Mark Hotchin’s mansion for sale

Hanover Finance co-owner Mark Hotchin is selling his Parnell mansion (below), which has a rateable value of more than $5 million.

The exclusive Bridgewater Rd property has 2832sq m of land – close to three-quarters of an acre – and a five-bedroom house with a tennis court, pool, spa and gymnasium.

It is being marketed by Kellands.

“With Parnell land at a premium it is hard to believe a property of this magnitude remains intact and is now available on the open market,” the marketing material says.

“Hidden from view, behind iron gates set in 2832m2 (more or less) of established park-like grounds, with areas for quiet reflection that create an environment for a calm leisurely laid back lifestyle.”

The property has a rateable value of $5.3 million. Mr Hotchin bought it in 1999, according to land registry records, for $2.3 million.

The $30 million Hotchin family mansion being built on Paritai Drive (below) is still not complete.

Hanover Finance is paying back $465 million of investors’ principal at a rate of 2c a quarter for the rest of 2009. It has made one of these payments so far, with another 2c due at the end of June.

The repayment rate then slowly increases – 10c in 2010, and 12c in 2011 – with the biggest hurdles of 35c per year in 2012 and 2013.

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29 Comments & Questions

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Perhaps the sale proceeds should go to the poor pensioners the scumbag has ripped off incl. this poor 83 year old who couldn't afford to pay for his own funeral (http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10570067)

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MARKY MARK! aye the slammer is but days away I hope you enjoy it in there. I hope the other dudes in there treat you well and ensure that your scummy ways stay in tact- you are scum! and you deserve everything that is coming for you.

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The new house looks ugly as!!

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but it is worth $30 million..hahah

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Just because you can't afford it.

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In NZ, money and taste are inversely related.

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The chances of this slimeball or his sleazy mate Watson ever doing the decent thing are about nil. I can understand why investors clutched at the straws of the "extended repayment plan" but I don't rate their chances of getting much more back. If the plan recommended by Hotchin's party playmates had been rejected than I presume Hanover would have had to force Hotchin to repay all the related party loans and sell his Paritai Drive monstrosity. The people who lost all their savings might have at least got some small satisfaction out of that.

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The only reason I cannot afford it is because I CHOOSE not to rip of New Zealanders of their hard earned cash.

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And also you are a douchebag

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My suggestion to agrieved investors is hit this rouge where it hurts; in the pocket. Use the house he has got on the market as your local dump. This will put off buyers, lower the price, extend the selling period & increase his holding costs.

He deserves nothing less. These people add nothing to society

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We can't afford it. He already has milked us of our savings, along with a lot of others in Kapiti

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We can't afford it. He already has milked us of our savings, along with a lot of others in Kapiti

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u r allpathetic i cnt belive u grow up he wrkd hard for his money.

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If any of you knew him and didn't rely on the media for your information you would know that he has worked incredibly hard for what he has!!! The gfc has affected us all if it wasn't Hanover it would be something else

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This guy riped off so many people in NZ and your trying to say that he is a nice guy and that he has worked hard for his money.... I dont see how he can build himself a $30million home when there's people out there that put there trust in him by investing in the company and are now suffering. How is that right? He is just a money hungry scum bag - KARMA's GONA BITE YOU IN THE A*** MARK HOTCHINS!!!!

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Please let us all have the addresses of these Bas%%%d Rat Bag scammers and google sites of their properties and Car details so we can all go and make our deposits and possibly a few withdrawals as it looks like all the investors in Hanover Finance are going to be screwed even more, as they certainly have no morals. Even their PR man on the 0800 number is stringing us a line yet again!!

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You are wearing rose tinted glasses.

Mark and Eric are poison, they have no morals, and have dreamt up ways to expolit the investing public.

The best thing that could happen is for Mark to join Eric overseas and for the public to listen and act on some very sound advise from Bruce Shepard, Brayn Gaynor, Gareth Morgan.

Sure the global financial crisis has hurt, and in the very broadest of explanations every one who was involved in using highly leveraged debt to fund fancy lifesyles / property / investments has been burnt badly and the fall out has affected every one else. If Hanover, Blue Chip, Petrecivich and others had not been allowed to conduct business NZ would be far better off today.

Take your glasses off, do some research, but for heavens sake don;t defend these pricks

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This clearly shows the holes in our system. Our government seems to follow the capitalist approach, which allows people to legally steal from ignorant and vulnerable people. Although I would not regard either one of these men as criminals, they clearly have little to no conscience. Unless they have broken the law, in which case they should be publicly hung and their money should be given back to the investors.

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I know Mark Hotchin you guys are all just jerks you rely on magazines and internet to get the two sided stories!!!! HE'S USING HIS OWN MONEY! HE IS NOT A BAD PERSON HE HAS FIVE KIDS! THEY ALL THINK HE IS A WONDERFUL DAD AND HE TREATS THEM LIKE ANGELS YOU GUYS CAN ALL GO AWAY IF YOU HAVE SOMETHING BAD TO SAY HE IS A GREAT MAN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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I know Mark Hotchin you guys are all just jerks you rely on magazines and internet to get the two sided stories!!!! HE'S USING HIS OWN MONEY! HE IS NOT A BAD PERSON HE HAS FIVE KIDS! THEY ALL THINK HE IS A WONDERFUL DAD AND HE TREATS THEM LIKE ANGELS YOU GUYS CAN ALL GO AWAY IF YOU HAVE SOMETHING BAD TO SAY HE IS A GREAT MAN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Evie,

You are obviosly blinded, both these guys have no morals, and have ripped off alot of decent Kiwi's. They might have alot of money but no kiwi's in their right mind would invest a cent with these two again. A honest businessman's reputation is pricess ....unatainable for Watson & Hotchin. What a way to be remembered! Legal thieves! preying on the elderly!

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Come on Evie - Hotchin and his mate Watson are typical of the selfish and self centred greedies, the likes of who have put the planet in the critical state it is in today. Just read 'How The Rich Are Destroying the Earth' by Hervé Kempf, an editor with Le Monde.

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and yep maybe he did work hard for his money BUT why don't you go along to the investor meetings and meet the hundreds of people who are now suffering because of Mark Hotchin, Eric Watson and Hanover.....have you not heard of the untold stories of the elderly couples who now have nothing, those who are near (or have) taking their own lives, broken families.....i would believe 100 truths before i believe 1 of their lies..........

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and yep maybe he did work hard for his money BUT why don't you go along to the investor meetings and meet the hundreds of people who are now suffering because of Mark Hotchin, Eric Watson and Hanover.....have you not heard of the untold stories of the elderly couples who now have nothing, those who are near (or have) taking their own lives, broken families.....i would believe 100 truths before i believe 1 of their lies..........

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Guys.. the reason these guys made so much money is because they backed some fledgling business ventures (that banks would not). Had Granny and Grandad deposited their funds in banks and not been rate hopping (or perhaps had a better understanding of how "secure" their investments were), then they wouldn't have lost it. These guys were doing what every other company was doing.. they just made sure their profit was safe...

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Investing in anything always carrys a risk. There are those that seem legit, have promising outlooks, then scam and take you for all you got (Blue Chip!! Bloody bastards!!), without the incentive of ever getting ANYTHING back!!

Where as atleast with hanover you get something back, and are/or planning to increase the shares value by a certain % each year.

And for all those complaining about his house, even if he sold the house (which would be hard since it isn't even completed yet), it won't even budge the current rate to every dollar invested. maybe by 0.1c..
Sure, he has a unfinished house in one of the most expensive streets in auckland, but he had started building it in 2006, when the business was booming and before the economic crisis hit. And in hindsight, didn't think hanover would suffer given the rapport they had shared between both business and its investors.

It's an unfortunate turn of events for both the company and its investors. I don't believe the company was purposefully trying to scam anyone at all. Just bad timing.

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Mark Hotchin is greed to the extreme! I cannot fathom how somebody could spend $50 million building a new home, while people who have trusted him with their entire life savings, end up with nothing. This man has absolutely no conscious, morals or integrity of any kind. And for those that support him, you are no better! Never mind the media, go and talk to the people whose lives this man has detroyed, the families of those whose loved ones have commited suicide, that have lost their homes, whose entire life's saving have gone whilst he sits in the sun holidaying in Hawaii, sipping on his $1000 bottles of champagne and enjoying himself boasting about his achievemnts of having ripped off the elderly and vunerable. My 93 year old father is just one of many - a man who spent 6 years at war for his country and who has worked extremely hard all life to give his family the best opportunies in life. You are repulsive Mark Hotchin. You make me vomit! I promise if I ever see you in public, no matter where you are, I'm going to smash you so badly, you'll wish you were never born.

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Mila, those are very shallow comments which tells me you are a cold fish. Thousands of people lost their life savings and when you look at what Hotchin and Watkins were buying personally, doesn't that say these scum bags were out for themselves. No, they should repay all the money back to the investors. Richard Branson did when his stock in his airlines dropped. He couldn't sleep and bought back every stock what the investor paid. That is class. Hotchin and Watkins are scum bags. They could get the capital, but won't and to run to Hawaii and not face the public shows their real character. Slime

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You people are all pathetic everyone knows that any finance company is a gamble when it comes to investing money! Yea it sucks that people lost out but it was their choice to invest they knew of the risks! And what abot all the other finance companies that went under??? How can mark hotchin be accountable for all this still now that hanover has been sold! New Zealand has tall poppie syndrome and we need more people with money because they supply the jobs!! Get over yourselves he lost money he has a family he is just another person who happened to lose a business. The media is hurting his family and kiwis are supposed to be app about family! People also forget the good he has done for the country!!

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