Mark Hotchin hot and bothered in luxury hideaway

Mark Hotchin confronts the 'Herald' reporter and photographer who tried to talk to him at his luxury Gold Coast home. Photo / Brett Phibbs

Former Hanover Finance boss Mark Hotchin is living a life few Kiwis could dream of, despite a court order freezing his New Zealand assets.

And he's unhappy that the Herald came calling on his multi-million-dollar Gold Coast property during the weekend.

Mr Hotchin and his family are spending the summer break in the three-storey mansion - complete with rooftop lap pool and spa pool - overlooking the golden sands of Mermaid Beach.

At the same time, his lawyers are trying to convince the Securities Commission to increase the $1000-a-week living allowance it is letting him have.

The commission won an order from the High Court at Auckland to freeze his assets in case any of the 16,500 out-of-pocket Hanover investors want to bring civil claims against the company and its directors.

Hanover Finance, co-founded by Mr Hotchin and Eric Watson, froze $554 million of investors' money in July 2008.

Mr Hotchin spent much of the past weekend relaxing with friends and family at the beachfront home, which neighbours say is worth "millions".

He was agitated when he spoke to the Herald outside the home and refused to discuss investors' concerns, or the impact the Securities Commission's action would have, saying: "Leave it to the courts, they'll sort it out."

He spent much of the weekend indoors but walked to the nearby dairy with his children and stopped to watch a surf-lifesaving contest on the beach metres from the back lawn.

But he was not happy to comment about what the New Zealand public would think of his lifestyle when the Herald spoke to him on his driveway.

His concern was for his family, not what anyone thought of his lifestyle. "Leave my family out of it," he said.

He appeared unhappy about being called by his first name, telling the Herald photographer and reporter they weren't friends of his, and he tried to avoid being photographed entering the house.

The home, on Albatross Ave, is where Mr Hotchin's company Miami One Pty has its registered offices, and is also listed as his address.

While Mr Hotchin was invisible for much of the weekend, others were busy at work on the home. A teenage boy cleaned the rooftop pool while a woman cleaned the windows and swept.

Mr Hotchin's wife Amanda was more visible, sitting with the children at the top of the beach watching the surf lifesaving carnival and looking on while they played backyard cricket in the muggy heat.

Mr Hotchin's holiday hideaway is one of the largest mansions on Albatross Ave, which is a mixture of modern beachfront homes, luxury units and older, original buildings on the opposite side of the street. One local called it "millionaires' row".

Local real estate agent Luke Henderson said the average price for a "knockdown" beachfront home was A$6 million, he said, but a better home could fetch much more.

Neighbours include Australian gaming magnate Bruce Mathieson, who paid A$18 million for a six-bedroom, six-bathroom on the beachfront last year.

Mathieson, who oversees a A$1 billion pub and gaming machines empire, got the 1395sq m house for well below the A$33 million asked for by Stephen Hill, co-founder of streetwear empire, Globe.

Mr Hill and his wife Sonya set a Queensland record price for the property in 2006 when they bought what was then a run-down beach shack at the height of the property market for A$20 million

Real estate website Domain said the average house price in the Mermaid Beach suburb in the 12 months to December was A$1,175,000.

The house in which the Hotchin family are staying towers over Nobby's Beach Surf Club next door. The family's privacy is protected by an almost windowless wall facing the club's car park.

But the property has unobstructed views of the ocean, from all three levels. Carparking is in an underground bottom level.

Neighbours did not know one of New Zealand's most controversial businessmen was staying nearby.

"I asked someone the other day who was there because there is someone there from time to time," a woman who worked at the surf club said.

Mr Hotchin reportedly said last week he did not know when he would return to New Zealand.

FROZEN ASSETS
An extensive range of property is owned by interests linked to Mark Hotchin and could be covered by the asset freeze. They include:

* Development land overlooking the marina at Gulf Harbour, Whangaparaoa

* The $30 million extravagant Paritai Dr home in Auckland

* 69ha Coromandel farm

* Sections at Jack's Point near Queenstown

* 51ha farm in Karaka, south of Auckland

* Office buildings in Queen St, Auckland

* Office building in Fanshawe St, Auckland

* Two retail units in Tamariki Ave, Orewa

* 4.5ha waterfront land and holiday home on Waiheke Island

The Herald would like to hear from Hanover investors and how they are faring. Email newsdesk@nzherald.co.nz