Twice-broke luxury golf community Lakes Resort Pauanui is again for sale despite securing a refinancing deal last year.

The partly-developed golf resort has been in receivership twice, first in 2001 then again in 2002.

The land was purchased by Gary MacDougall in 1997, with shareholders Richard Herbert and Trevor Toohill coming on board after the second receivership in 2002.

The 85ha property has a capital value of $7.8million.

The company sourced new finance of an undisclosed amount from Alan Hawkins’ finance companies Cynotech Securities and Budget Loans in October 2008.

The Lakes Resort is listed as for sale in one parcel or individual units with Bayleys Coromandel.

When NBR contacted Bayleys, agent Michael Pleciak claimed that the listing was an error. “That’s a mistake. It needs to be removed,” Mr Pleciak says.

Shareholder in the property Mr Herbert says the comment from Bayleys is “odd.” “The entire place has been listed with Bayleys for a number of years. Someone can buy the whole lot or pieces thereof,” Mr Herbert says.

Mr Herbert says that the property was purchased for development with the intention of selling. “It has always been in sell down mode since we acquired it,” Mr Herbert says.

The resort is comprised of an 18 hole golf course with a restaurant, and 65 residential sites, 33 villas to be built on 13 sites, 78 terraced apartments to be built on 12 sites, two hotel sites and 30 future development sites.

Some villas have been sold freehold to private owners and are protected by a Residents Association.

One privately owned three bedroom villa within the resort, on St Andrews Drive, seeks tenants via TradeMe asking $2275 per week in rent.

Another St Andrews Drive villa within the Lakes Resort up for mortgagee sale onJanuary 25, was withdrawn when the auction failed to meet reserve.

The gated community is located 4.5km from Pauanui.