Agreement reached on Neil Finn's $5.1m property dispute
Finn family home sale met "strong buyer resistance."
A dispute between musician Neil Finn and the neighbours of his $5.1 million Auckland home has been settled after an agreement was reached before a High Court hearing this morning.
Last year, Neil and Sharon Finn’s five-bedroom home, which they purchased in 1993, failed to sell at auction.
The property was marketed as the home in which Mr Finn’s two sons, Liam and Elroy, grew up and where he wrote and recorded some of his most famous songs.
Today, it was revealed the sale had met “strong buyer resistance” because it was on a cross-lease with two neighbouring properties, owned by entities associated with Murray and Linda Galbraith.
The Finns had brought proceedings to partition the section into five freehold titles, which was opposed by the neighbours, who are also thinking about selling their properties.
Property records show the Finn family home is valued at $5.1 million.
The dispute was to be heard before Justice Simon Moore in the High Court at Auckland today but an agreement was reached between the parties beforehand.
Justice Moore says negotiations between the parties had “met obstacles” because the respondents contended there were benefits to them with a cross-lease.
The Finns, however, had met “strong buyer resistance” and wanted to partition the property into five separate freehold titles, the judge says.
Justice Moore approved the agreement to partition that land, which will lie in court pending the granting of the necessary consents.
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Hamish McNicol
Mon, 11 Apr 2016
Mon, 11 Apr 2016
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Agreement reached on Neil Finn's $5.1m property dispute
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