His advertisement described them as \u201cripe for renovations\u201d and perfect for astute investors and land bankers.<\/p>\n
Property records show Tennakoon\u2019s colleague at the Manukau office, Eshpreet Kohli, ultimately took ownership of the properties in January this year via his company Nile Ventures No.1 Ltd.<\/p>\n
The Real Estate Agents Act 2008 requires that, when a real estate agent seeks to buy properties on sale through their office, they must tell the seller and get their signed consent for the deal to go ahead.<\/p>\n
The law aims to protect sellers and avoid conflicts of interest.<\/p>\n
K\u0101inga Ora told the Herald it had not been \u201cadvised prior to the [Reseda properties\u2019] settlement that the purchaser was associated with the selling agent\u201d.<\/p>\n
Bryan Thomson, managing director of Harcourts NZ, said his team had only recently been made aware of concerns about the sale after being contacted by the Herald, and would be reviewing the matter.<\/p>\n
\u201c[We] are currently looking into it. We take our obligations seriously and will review the details before making any further comment.\u201d <\/p>\n
Tennakoon said his agency sold the homes to an \u201cindependent purchaser\u201d.<\/p>\n
\u201cThe agreement for this transaction was entered into with an independent purchaser following a robust, multi-offer process. <\/p>\n
\u201cThat purchaser later nominated another buying entity, with that nomination managed between the parties\u2019 solicitors rather than through the agency.<\/p>\n
\u201cI take my professional responsibilities seriously, and I\u2019m referring this matter to the Real Estate Authority.\u201d<\/p>\n
Kohli declined to comment when approached by the Herald.<\/p>\n
One of the Reseda Pl homes bought in the deal now being scrutinised. Photo \/ Harcourts<\/p>\n
The Reseda properties are among more than 250 former state housing properties sold in Auckland since July for a combined $179m, according to a K\u0101inga Ora self-published list.<\/p>\n
A Herald analysis of Auckland sales shows developers, real estate agents and other industry professionals have been involved in most of the notable sales.<\/p>\n
K\u0101inga Ora refused to comment when asked if it would pursue the matter further or make a complaint.<\/p>\n
\u201cThis is a matter for the REA,\u201d a spokeswoman said.<\/p>\n
The $1.9m price paid for the Reseda properties was close to the three properties\u2019 combined $1.92m council valuation.<\/p>\n
Caroline McDowall, K\u0101inga Ora\u2019s manager for the housing selivery group, said that, despite not being informed about the end buyer, it believed it had achieved the \u201cstrongest overall commercial outcome\u201d.<\/p>\n
Harcourts Manukau owner and listing agent Iresh Tennakoon and his colleague Eshpreet Kohli, who became the ultimate buyer of the three state houses at 8A-8C Reseda Pl in Papatoetoe. Photo \/ Harcourts<\/p>\n