Receivers say Queenstown Views Villas, Carlin Hotel owe millions

Prominent Queenstown developer and music composer Kevin Carlin passed away in December. Photo / James Allan

The late Queenstown developer and music composer Kevin Carlin’s companies owe millions of dollars.

Carlin, a prominent property developer and owner of a six-star boutique hotel, died suddenly in early December.

The 69-year-old owned The Carlin Boutique Hotel, a $30 million-plus project, where he lived in a penthouse.

The BDO receivers’ first report said Carlin Hotel Property Management Ltd (CHPML) had assets of $1.195m but debts and liabilities of $12.459m.

Queenstown Views Villas Ltd had assets of $26.084m, including land and buildings valued at $25.864m.

It owed $30.788m, most of that to the secured creditors, Pablo (Australia) Pty Ltd.

Pablo had security over the land, buildings, and business of the companies and appointed Diana Matchett and Colin Gower as receivers.

Pablo was registered at Southport on the Gold Coast.

The amounts due related to Pablo’s mortgage over six units and four car parks.

Money due to Pablo either directly or through cross guarantees were $28.3m, including accrued interest.

Some of the money owed related to various loan facilities.

“Since the opening of the Carlin Hotel in April 2022, the company has sustained significant trading losses and cashflow constraints which have impacted its future viability,” the receivers added.

A chauffeur-driven Bentley was available for airport transfer at The Carlin. Photo / Simon Larkin

The receivers’ report said the Carlin companies had no employees at the time BDO was appointed.

Crux news in March said several former hotel employees complained of Carlin behaving strangely in the days before his death and one worker told Crux they were owed $8000.

The receivers said they had corresponded with preferential and unsecured creditors, including Inland Revenue and suppliers.

Inland Revenue said no money was owed to it.

“Total claims of $2.5m have been received to date. We have not accepted or rejected any creditor claims received,” the BDO receivers added.

Queenstown Views Villas had $9000 cash in the bank and CHPML had $203,000 cash.

BDO said it had taken control of all company operations and assets and considered various receivership strategies.

“In order to preserve the position, the business continues to operate from the property,” the receivers added.

An outdoor function space at the Carlin Hotel in Queenstown. Photo / Simon Larkin

They said an independent real estate agent and commercial property valuer were engaged to provide appraisals or valuations of the land and buildings under various structures and scenarios to determine the most appropriate sale strategy.

BDO previously said receivers planned to search for people to buy the companies, company assets, or both.

Self-made man

Speaking to Metropol magazine in 2022, Carlin, a Californian, said he fled from his abusive family home at the age of 17.

He first visited New Zealand in the early 1990s and several holidays later bought land in Queenstown and moved there.

Carlin was also a composer and wrote 14 orchestral pieces the New Zealand Symphony Orchestra performed for an album called The Princess of Wales.

Prior news reports indicated Carlin felt disillusioned with the direction his native US was taking.

Carlin’s friend Stephen Murray in December told Mountain Scene he believed Carlin died of a sudden heart attack in his sleep.