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Nido investors facing losses: lender strikes $46.3m conditional property sale

Nido investors facing losses: lender strikes $46.3m conditional property sale
5 May, 2021 01:00 AM
4 minutes to read
NIDO shows off NZ s biggest furniture store, planned to open soon. Julian Bottaro of Nido was filmed in the unfinished project late last year. Video / NIDO
NIDO shows off NZ s biggest furniture store, planned to open soon. Julian Bottaro of Nido was filmed in the unfinished project late last year. Video / NIDO
Investors in a planned large-scale retail homeware store face losses after the building s conditional sale for $15.7 million came in well short of what was raised to buy the property.
Neil Tuffin, managing director of ....

New Zealand , Vinod Kumar , Neil Tuffin , Maat Group , Auckland Council , Central Park Property Investment , West Auckland , Pearlfisher Trustee , Code Compliance Certificate , Large Scale , புதியது ஜீலாந்து , வினோத் குமார் , ம்யாயாட் குழு , ஆக்லாந்து சபை , மைய பூங்கா ப்ராபர்டீ முதலீடு , மேற்கு ஆக்லாந்து , குறியீடு இணக்கம் சிஇஆர்டிஐஎஃப்ஐசிஏடிஇ , பெரியது அளவு ,

Nido investors fail in attempt to convert shop into smaller tenancies, mortgagee sale proceeds

Nido investors fail in attempt to convert shop into smaller tenancies, mortgagee sale proceeds
28 Apr, 2021 08:50 PM
4 minutes to read
Nido furniture and homewares store in Henderson, now shut for weeks. Photo / Hayden Woodward
Mortgagee PearlFisher Capital has refused an offer to convert west Auckland s failed Nido shop into multiple tenancies to generate money for investors in the $62 million property investment scheme which owns the land and building.
Jodi Tuffin, investor relations manager at Maat Group, which sold sales in Nido landlord Central Park Property Investment, told investors the latest rescue plans did not succeed.
The building was to be leased to smaller operators but the lender had not agreed, she said. ....

New Zealand , Tony Abraham , Mark Hughson , Neal Tuffin , Jodi Tuffin , Neil Tuffin , Buchan Group , Maat Group , Mortgagee Pearlfisher Capital , Central Park Property Investment , Pearlfisher Trustee , Pearlfisher Capital , Central Park , புதியது ஜீலாந்து , குறி ஹட்சன் , புச்சன் குழு , ம்யாயாட் குழு , மைய பூங்கா ப்ராபர்டீ முதலீடு , மைய பூங்கா ,

Nido-linked company which guaranteed $25m loan fails

All three companies had a common sole director, Nido founder Vinod Kumar.
Magsons Investments’ liquidators, Daran Nair and Heiko Draht of Greenlane Chartered Accountants, said the company owned was a part owner of Nido’s property at 158-160 Central Park Drive in Auckland.
ROB STOCK/Stuff
West Auckland furniture store Nido store continues to trade while receivers try to find a buyer.
The company entered into a joint venture with Central Park Property Investment, and the venture was registered as Everest Central Investments Limited (ECIL).
Initially Magsons Investments had a 20 per cent stake in ECIL but over time the other partner, Central Park, acquired some of Magsons shares. Company records show it no longer holds any. ....

New Zealand , Vinod Kumar , Kare Johnston , Daran Nair , Heiko Draht , Mcgrath Nichol , Greg Sherriff , Vijay Holdings , Everest Central Investments Limited , Pearlfisher Trustee , Magsons Hardware , Greenlane Chartered Accountants , Park Drive , Central Park Property Investment , Magsons Investments , Central Park , Pearlfisher Trustee Limited , Inland Revenue , Waterstone Insolvencies , புதியது ஜீலாந்து , வினோத் குமார் , கரே ஜான்ஸ்டன் , தரன் நாயர் , மக்ர்யாத் நிக்கோல் , கிரெக் ஷெர்ரிஃப் , விஜய் ஹோல்டிங்ஸ் ,