Three properties in Auckland owned by failed developer Du Val have been listed on Trade Me as statutory deadline sales. Photo / Colliers New Zealand
Three properties in Auckland owned by failed developer Du Val have been listed on Trade Me as statutory deadline sales. Photo / Colliers New Zealand
Three properties in Auckland owned by failed developer Du Val have been listed on Trade Me as statutory deadline sales.
Eleven-thousand square metres of land in Henderson, Sunnyvale and Māngere are included.
“This property offers a unique opportunity for acquisition, with a motivated seller,”two of the listings read.
Du Val Group was an Auckland-based apartment and townhouse developer. The Financial Markets Authority, a Government regulation agency, successfully requested the High Court put the company into interim receivership in August.
The Government then put Du Val Group into statutory management three weeks later. PwC was made responsible for 62 entities in the group, and its latest report says total creditors amount to $237.6 million, the majority being owed to banks and other secured creditors.
Minister for Commerce and Consumer Affairs Andrew Bayly took the case to Cabinet, and he has previously told the Herald the Government wanted to ensure the developments in which Du Val was involved would continue and be completed.
35-37 Walmsley Road, Māngere, Manukau City, Auckland, one of Du Val Group's properties up for a statutory deadline sale, was listed for sale by Colliers New Zealand on Trade Me on Friday, October 25, 2024. Photo / Colliers New Zealand
One property listed for deadline sale is on Walmsley Rd, Māngere. The apartment block is part of a master-planned community with 160 terraced units.
The listing, by Colliers New Zealand, said a resource consent variation had been lodged to include a further 13 ground-floor units alongside the 22 apartments already under construction in the building.
“Significant progress has been made in the development, with 19 units already sold,” Colliers said.
“Committed contractor available to finish [in] August 2025,” the listing read.
The building is on a parcel of land comprising just under a quarter-acre.
64-74 Edmonton Road, Henderson, Waitākere City, Auckland, one of Du Val Group's properties up for a statutory deadline sale, was listed for sale by Colliers New Zealand on Trade Me on Friday, October 25, 2024. Photo / Colliers New Zealand
The second listing is on Edmonton Rd, Henderson. Dubbed the “Edmonton Development”, it spans 4832sq m and includes 57 already resource-consented units, from single to four-storey terraced units.
The third listing is 5537sq m of land on Awaroa Rd in Sunnyvale.
Colliers’ listing said civil works had been completed. The property spans four separate freehold titles. Resource consent has already been granted for 46 units, all two-bedroom, two-storey units with their own parking spaces.
Trade Me shows the most interest has been in the building on Walmsley Rd, with over a thousand page views since it was listed as of Sunday morning.
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