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Developer's $160 million Spencerville dream evaporates - 30th May 2017

Developer's $160 million Spencerville dream evaporates

CHRIS HUTCHING

Last updated 17:23, May 30 2017
 

Two large blocks of rural land north of Christchurch at Spencerville formerly intended to be a luxury golf course are being sold in two mortgagee tenders.

Real estate agencies JLL and Colliers International are acting on instructions from First Mortgage Trust and the original property owners to sell the 64 hectares and 92ha respectively.

The blocks – bounded on one side by the Styx River – had been earmarked by Young Hwan (Thomas) Na, who told the Overseas Investment Office in 2009 he was spending $16.8 million buying the properties to develop Whisper Creek Golf Resort.

Read the article here.

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