Du Val townhouses sold in ‘bulk’ deal, investors to lose $63.8m
Statutory manager says it has ‘discharged’ second-tier mortgages as part of the sale process; not enough to repay lenders and will see Du Val investors out of pocket.
Charlotte and Kenyon Clarke, statutory management to blame for ‘cataclysmic loss’.
A number of Du Val’s remaining Auckland townhouse developments have now been sold by statutory manager PwC.
The sales extend to a bulk lot of townhouses at Mountain Vista Estate in Māngere, the planned 46-unit Sunnyvale Terraces in West Auckland, and the completed 79-home Te Awa Terraces at
