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Home arrow Articles by Topic arrow LandCo arrow Developer's suburban nightmare
Developer's suburban nightmare PDF Print
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Articles - LandCo
Written by Cliff Taylor, The New Zealand Herald   
Sunday, 14 September 2008

Greg Olliver. Photo / Northern Advocate

A high-flying developer's dream to build an exclusive hilltop suburb in Auckland appears to have been abandoned.

More than a dozen homes in swanky St Heliers have lain empty for years after being bought for millions of dollars by Greg Olliver.

Some of the houses in Glover Rd are boarded up. One is overgrown with vines and defaced with graffiti. Another has had its metal guttering ripped off.

Now mortgagee sale signs have appeared on two of the properties.

Olliver's BBG Trust owns at least a dozen homes in Glover Rd and at least eight more properties in nearby Waimarie St. A number of the houses in Waimarie St have been demolished, leaving empty sections with stunning sea views.

The original development was to have included up to 20 luxury units as well as a mansion for Olliver himself. He has a home on top of the hill in Waimarie St with a view across Glover Park to the palatial $20 million home owned by Graeme and Robyn Hart.

Landco's projects include the Stonefields development at the former Mt Wellington quarry, and proposed large-scale developments at Long Bay and Northland's Ngunguru Spit.

Although retaining a position on NBR's Rich List this year - equal 40th with an estimated fortune of $200m - it has not been smooth sailing for Olliver recently.

Full story...


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Last Updated ( Sunday, 14 September 2008 )
 
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