U: The names behind the action, 22 July 2001

Your new Bob Dey Property Report column

This is the first appearance of a new page on The Bob Dey Property Report, called simply U.

It will contain a mixture of property and other information, company formation, the down side of business, market bits & pieces, probably fairly cryptic and rushed.

The weekly Snapshots tend to contain formal information, while other stories on the website are generally structured. U will contain snippets, less often from formal sources, maybe unstructured and incomplete.

22 July 2001

From the debtor columns, the public couldn’t be told Eric Isadore Jaffe was on trial on fraud charges in the Auckland District Court because of his wife’s illness. Jaffe, 79, was jailed in May for four years. His lawyer, Bob Warburton, has now gained a district court default judgment against Jaffe’s wife, Faye, for $12,862.

Also from the debtor columns, Niche Construction (2000) Ltd (Norman French) has been found owing Rawiri Labour Hire 2000 Ltd (Tom Rawiri) just under $16,000, Impact Real Estate Ltd (Stewart McLoughlin) one G Willis just over $6000, Gateway to Queensland Real Estate NZ Ltd (Ian Barry) just over $1000 to W & H Newspapers Ltd, and the trio of Tim Sussex, Desmond Trigg & Ken Wimsett just over $30,000 to Commercial Realty Ltd (Brian Isherwood & Maurice Walker).

From the bankruptcy file, property developer John Heaven and wife Mary, of Pt Chevalier in Auckland, were bankrupted in Christchurch in early June. Correction: I wrote John Heaven (ex-Strategic) first up. The Strategic man is Fraser Heaven, who’s still in business.

New business

North Shore industrial & commercial developer Russell Comer has formed a new company, Apollo Estates Ltd with wife Elizabeth and 10% partner John Burns.

In Papakura, John Radley, Eddie & Sharon De Heer have formed Aragon Properties Ltd.

Eric Watson’s mate Greg Wilkinson has formed Axis Hobson St Ltd, with Wilkinson Investments Ltd as the shareholder.

Tim Dromgool & Allan Fraser of Newcrest Developments/Holdings/Investments Ltd have formed Balmon Holdings Ltd, as directors, with Greg Rathbun & Kevin Mcdonald as shareholders. Balmon is the holding company for three other creations, M3/M4/M5 Investments Ltd.

Peter Chevin, recently departed from Melview Developments Ltd, has formed Classic Motors & Restoration Ltd and Porters Avenue Ltd.

Doug Myers and his former Lion Nathan lieutenant, Mike Smith, are into herbal fragrance these days. After forming Coriander Holdings Ltd (shareholder, The Campbell & Ehrenfried Co Ltd, they’ve gone on to form Sage Ltd and Sage Film Investments Ltd. Tarragon Investments Ltd is an older company under the same control, Lavender Investments Ltd was formed in March. So far no rosemary or thyme.

Restaurateur Leo Molloy, best known for Euro on Princes Wharf and previously for The Fat Lady’s Arms on Parnell Rd, is now into the Danny Doolan’s chain. Danny Doolans Ltd was formed a year ago, Doolan No 2 Ltd in June.

Richard Braddock of brokerage and investment house DF Mainland has formed Gardenernet Ltd (but Gardenernet.com Ltd is a separately owned company), and Duncan & Davies 2001 Ltd, with Global Plants Ltd (also brand new) as shareholder.

Allen Dale Court (of the George Court family) has formed Global Property Group Ltd.

It looks like Robert Vincent, who briefly headed Placemakers and the Fletcher Merchants group in the 80s, is back in the hardware trade as joint owner of Kerikeri Mitre 10 Ltd and Kerikeri Properties Ltd. Between times, one of Mr Vincent’s roles was to head Philadelphia Consulting Group Ltd.

Warren Le Noel, big in Auckland and Australian property investment in the 80s, has formed Lorenzo Apartments Ltd. Other interests are Reed Recruitment Ltd, Noelpark Properties Ltd, Spanlite Design Co Ltd (with Bernard Hulena) and JKLTV Ltd.

Mission Properties Ltd has been formed by Brett Taylor, of Group CDA Design. If the Mission company name’s familiar, Mark Lyon (the idea behind Chancery)’s Mission Properties was struck off the company register last November. An earlier version was struck off in 1991.

Castlerock Group directors Rod & Greg Nielsen have started a new company, Mondrian Property Holdings Ltd, with Paul Burton, of Paul Burton Residential Ltd. Mondrian was incorporated on 13 June 2001. One of the Nielsens’ companies, Castlerock Group Management Ltd, changed its name to Norwest Group Management Ltd on 29 May 2001 and was placed in liquidation the same day.

Layne & Greer Stephens have formed Neilson Industrial Ltd, major Onehunga developer Brent Clode has formed Neilson Street Ltd.

Jonmer Projects Ltd director Ian Calderwood has formed Nelson Homebase Ltd. The Jonmer group has a string of Supa Centa companies and has sold the first bulk retail Supa Centa, at Manukau City.

Paul & Vicki van Dorp have formed NZ Paradise Holidays Ltd with Lynda Moore. Their other companies include Golf Safaris Ltd and NZ Heli-Safaris Ltd and Rocom Ltd.

Office Systems Management Ltd has been formed by Christine Henwood & Tracey Harvey.

Mark Durling & Olaf Eady of New Zealand Life Care Ltd have formed Palmerston Manor Ltd. This group, with Raewyn Goodwin as another director, is separate from the Eldercare NZ Ltd group controlled by Eric Watson’s Cullen Investments Ltd, which also owns a company called New Zealand Lifecare Properties Ltd.

Chong Du Cheng, a director of the ill-fated Equinox Construction Ltd (which changed its name to GFF Ltd before going into liquidation after its Asian backers withdrew), has formed a new company, Ponderosa Ltd. He remains a director of No 1 Queen Ltd, which owns the One Queen St (ex-Air NZ) office block for which Metropolis developer Andrew Krukziener was noted as the buyer, and of several other companies, including Oblique Developments Ltd (with Robert Yu), which was to have developed the One Hobson apartments on the old Broadway tavern site. David Henderson of Kitchener Group, who was to have managed those apartments, is in the process of taking over the site for development.

Colin Sharp & Ron Macdonald have formed St Heliers Project Construction Services Ltd.

Strategic Investment Group Ltd has formed Strategic Home Loans Ltd, with Marc Lindale & Paul Bublitz as directors.

Strategic Mezzanine Partners Ltd (Brian Fitzgerald & Paul Bublitz) has provided mortgage finance recently to Bankhouse Vineyard Ltd (Errol Bailey, of Taurus Group Ltd, Taurus Accounting Systems Ltd, Auckland Independent Brewery Ltd with Denis Crisp, Aotearoa Property Trust Ltd and Gold Band Finance Ltd, all registered in Christchurch), and Cobham Investments Ltd (Trevor Love, who with Auckland architect Kerry Avery planned the Auckland Harbour Travelodge hotel in Albert St two years ago, a project which collapsed with the change in brand emphasis of the Southern Pacific Hotel Corp).

Other recent Strategic Mezzanine borrowers are Landco Long Bay Ltd (Greg Olliver) and Redwood Group No 9 Ltd (Tony Gapes).

Strategic Investment Group Ltd, along with Harts Contributory Mortgages Nominee Co Ltd (at Harts Reeves Moses Ltd) and St Laurence Mortgages Ltd (Kevin Podmore & Mike O’Sullivan) have financed Gulf Corporation Ltd (Jamie Peters), which has bought out the rest of Gulf Harbour from Singaporean investor Goh Cheng Liang.

Strategic Mortgages Ltd (also partly with Securities Registry Ltd, a Money Managers/Doug Somers-Edgar company) is financing Southern Trading Co Ltd & 88 The Strand Ltd (Greg Kernohan, of apartment development 88 The Strand, on the former railway land at the foot of Parnell).

Ric Martin’s Cornerstone Oyster Cove Ltd has arranged finance with WestpacTrust for its Gulf Harbour residential development, on the western side of the canal, across from the town centre.

Unlimited Potential Ltd real estate company founder Barry Thom — of Upland Rd — has formed UP Properties Ltd with Grant Lynch.

Vision Senior Living Ltd, the retirement village/aged care company of Peter Bourke and Arrow International director Bob Foster, has formed VSL Finance Ltd. A similar site-specific finance company was formed for their Waitakere Gardens project in Henderson. They’re now developing their Dannemora project at Botany.

Cullen Investments Ltd, the investment vehicle of wonder-entrepreneur Eric Watson, has formed Westbury Land Holdings Ltd.The group’s Westbury Stud is at Karaka.

Culverden Group Ltd (Ian Anderson), which is seeking to develop a resthome and private hospital in Mangere, has rearranged its finances with Southern Cross Building Society.

Ken & Martin Kells have arranged finance with ANZ Bank for Hopetoun Terraces Ltd, which will develop the apartment complex on the St Helens site at the corner of Pitt St, opposite Vodafone House in Auckland.

Manu & Bharat Bhanabhai have arranged finance with the NZ Guardian Trust Co for Hotel Alcamo Ltd.

Hudson Auckland Hotels Ltd & Hudson Princes Court Ltd (both with Bruce McLeod as director and c/- Tony Keenan at Chapman Tripp; this was the group in which Jihong Lu of Savoy Group and Britomart fame, now bankrupt, was the linchpin) have arranged finance with Securities Registry Ltd (a Money Managers/Doug Somers-Edgar company, with Anne Somers-Edgar and Gerald Siddell as directors). Hudson has a luxury apartment project designed back of the Hyatt Regency Hotel on Princes St.

Jaafar Holdings Ltd (Husain Ahmed Ali & Sakina Sethna Ali, also of Century Group Ltd) have arranged mortgage finance with Equinox Nominees Ltd (Chong Du Cheng & Kerry Knight).

Krukziener Rawhiti Ltd (Andrew Krukziener) has arranged loans with Securities Registry Ltd (Money Managers/Doug Somers-Edgar). Also arranging at Securities Registry Ltd are Mera Properties Ltd (Simon Thomson & Lance Willson), Ohau Channel Ltd (Tim Manning of Taradale Properties Ltd for his Rotorua development), Suisse International Ltd & Mathison Holdings Ltd (both Reg Watt), Technology Development Group Ltd (Bradley Houghton & Peter Jeromson), and Thornhill Capital Ltd (Alexander Lee).

Structured Finance NZ Ltd (Martyn Reesby & Russell Tills) has financed Medland Custodians Ltd (Ken Wimsett & Callum Baker of McLeod Group Ltd).

Among the BNZ’s customers for recent finance is Lifestyle Investments International Ltd (Mark Hotchin).

Stephen Partridge (Mary Bay Holdings Ltd) has finance from Lovegroves Solicitors Nominee Co Ltd.

Tim Manning, at Securities Registry for the Ohau Channel development near Rotorua, is at Knight Coldicutt Solicitors Nominee Co Ltd for another of his companies, Middleton Developments Ltd.

Grant McMillan (Metro Properties Ltd) has a mortgage to Bruce Sheppard, now of battling-small-shareholders fame.

Mt Olympus Properties Ltd & Mt Tongariro Properties Ltd (both Gary Hill & Henricus Van Hoppe, of Parnell) have gone to Elders Finance Ltd, and Mt Olympus to Concrete Properties Ltd (James Kirkpatrick) for finance.

Pauanui Lake Resort Ltd (the golfcourse resort over the hill from the Hopper development at Pauanui, still Gary & Angela Macdougall) has borrowings from NZ Commercial Mortgage Nominee Co Ltd (Jeff McIntyre & Bryn Evans, of Christchurch), Project Mortgages Ltd (Mr McIntyre & John Eldershaw), and Works Infrastructure Ltd (Downer Group/Paul Y-ITC Construction of Hong Kong). Works Infrastructure has undertaken work on the development.

Malcolm McDougall (Willis Bond & Co Ltd, who set up Property For Industry Ltd and CBD NZ Ltd then struck out on his own) has finance from Westpac for Tawa Drive Trade Centre Ltd.

Southern Capital Ltd (Graeme Wong) has arranged National Bank finance for its new Canterbury township company, Pegasus Bay Town Ltd.

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