OIO tells German millionaire to offload property
themselves and a model show home, but nearly a decade on, no other sites have been sold. The large estate is effectively empty, largely due to a delay in getting resource consents and a lack of buyer interest.
‘‘Originally, the D’elias stated that they intended the development to take approximately six years,’’ OIO deputy chief executive Lisa Barrett says. ‘‘In late 2015, it has ordered Braun to sell the property.
The lodge was to have provided accommodation and pursuits for tourists wanting outdoor activities, including guided fishing and guided horse riding and trekking.
The OIO was persuaded the development would provide jobs, new product, competition and additional investment.
Stuff understands Canres planted a shelter belt on the property and also built a driveway to the lodge site. At one stage Braun was hoping to move to New Zealand and have his two children schooled in Christchurch.
The property is described as ‘‘attractive bare land with outstanding views, adjacent to the Ashley River with numerous became apparent . . . that Tui Estate was not going to successfully fulfil its consent obligations.’’
The estate is now on the market.
A director of the development and the couple’s New Zealand representative, Barry Hopkinson, says every effort was made to make the development happen.
They produced lavish brochures, made a website, and ran newspaper advertisements, but struggled to gather interest.
‘‘The plan was we would build a spec house, sell it, build two spec houses, sell them, and so on, until the whole place was sold,’’ he says.
‘‘We’ve had God knows how many land agents up here and they say, ‘Why hasn’t this sold?’ The views are spectacular, it’s a very nice house – you wouldn’t recreational opportunities, deer fenced, excellent building sites on the middle terrace’’. It has a GV of $600,000.
Braun is required to report to the OIO on the sale process.
Canres has two local directors – retired accountant Graham Riley and lawyer Peter O’Dea.
Riley said the Braun family had a long relationship with New Zealand. They would rather not sell the Cust property but ‘‘they knew the conditions’’.
‘‘They ran out of time and they didn’t get an extension. I’m surmising that’s what happened.
‘‘They’re finding Australia, where they have another property, a bit more friendly than New Zealand,’’ he said.
O’Dea declined to comment. Braun could not be contacted.