A Waiheke Island waterfront property linked to former Hanover Finance boss Mark Hotchin is attracting interest from potential buyers after marketing began on Friday.
The 4.53ha property, with 100m of beach and riparian rights, has a valuation of $8.8 million.
Bayleys agent Michael Pleciak says the figure was for rating purposes and the property, which changed hands for $13.8 million in 2005, was being sold by tender on March 27.
"This is one of those assets that doesn't come up for sale very often," Mr Pleciak told NZ Newswire.
The property has a five bedroom home, four boatsheds, a boat ramp and tennis court.
It is on the northern side of the Hauraki Gulf island, which has a regular ferry service.
Mr Pleciak said the vendor is a trust called KA No.3 and all regulatory authorities and parties involved have been advised.
Mr Hotchin's assets have been frozen. The Financial Markets Authority said last year that it proposes to file civil proceedings against directors and promoters of Hanover Finance Ltd, Hanover Capital Ltd, and United Finance Ltd.
NZN