– Wild Poppies founder’s luxury coastal homes face mortgagee sale<\/a><\/p>\nReceiver Thomas Rodewald, of Rodewald Consulting, said it was unlikely all the creditors would be repaid.<\/p>\n
Colliers Hamilton agents Jason Kelsey and Alan Pracy have been tasked with selling 8 McWatters Drive, which under Au\u2019s plans had been earmarked for a retirement village and care facility, a childcare centre for 50 children, a cafe and six residential dwellings. <\/p>\n
Pracy told OneRoof that the site could suit land bankers and developers, adding that he expected most of the interested buyers would look to pick up the original development.<\/p>\n
He could not give a price indication and said they were inviting all offers. \u201cEveryone wants it sold, obviously,\u201d he said.<\/p>\n
A childcare operator could take advantage of the land use consent in place for the childcare centre, but there was no resource consent for the retirement village and care facility. <\/p>\n
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Hauraki mayor Toby Adams is hoping someone will take over the development aimed at building more housing in the town. Photo \/ Mike Scott<\/p>\n
There was also one half-built home on the site which had been built by a third party with a sale and purchase agreement in place for them to buy the land it is on.<\/p>\n
Harcourts Thames has been tasked with marketing a further six residential sections, including three with half-built homes on them.<\/p>\n
The deadline for 1, 2, 4 and 6 Calla Lane and 1 and 2 Tennent Lane closed last week, with Harcourts agent Steven Bridson telling OneRoof they were still going through the tender process.<\/p>\n
The listing photos show some of the unfinished houses have roofs, exterior walls made from poured concrete and internal framing, but are missing joinery, interior walls and kitchens and bathrooms.<\/p>\n
Adams said the council sold the land to Au to support his plans for the site. \u201cHe had a really great vision to maintain a good housing stock for Ngatea, but there were talks of a hospital or rest home and all sorts of activities there at the start,\u201d he said.<\/p>\n
\u201cWith the best of intentions, he tried his hardest, and unfortunately it didn\u2019t go to fruition due to whatever reasons \u2013 market drops, all sorts of activities that changed around that time.\u201d<\/p>\n
Adams said the market had slowed down and council\u2019s own experience with selling its sections in the Ngatea North subdivision highlighted that.<\/p>\n
The town already has several childcare centres, but there isn’t a retirement village or care centre. Residents seeking these services currently had to move to neighbouring towns such as Paeroa, Thames or Waihi, he said.<\/p>\n
\u201cAs our population ages, they don\u2019t necessarily want to leave the community they\u2019ve been living in so to have something in the community where they have access to all their needs being met, then 100%, we would definitely support that.\u201d<\/p>\n
Adams had been told there was interest in the development and was hopeful the next person who picked it up would fulfil the original vision.<\/p>\n
\u201cIt\u2019s kind of hard because you are not just coming into a half-done project just with infrastructure; you are coming into a half-done project with actual houses on it,” he said.<\/p>\n
\u201cIt\u2019s an interesting one, but that\u2019s what happens when unfortunate things happen with finance and projects don\u2019t get done to completion.\u201d<\/p>\n
– Click here to find more properties for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"– A $40 million housing project in Ngatea is for sale after the developer’s collapse. – Ngatea Development…\n","protected":false},"author":2,"featured_media":547312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1258,111,43,139,69],"class_list":["post-547311","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-latest-news","tag-new-zealand","tag-news","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/547311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=547311"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/547311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/547312"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=547311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=547311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=547311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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