Gerry Harvey snaps up $88m worth of NZ property loans

Gerry Harvey at the Magic Millions sale in 2012. (Image: Getty)

Tue, 20 Dec 2022

Gerry Harvey, the Australian-based chair and major shareholder of stock exchange-listed retailer Harvey Norman, has bought up $88 million worth of property development loans through his New Zealand bloodstock entity.Harvey, who co-founded Harvey Norman in the 1980s, owned NZ Thoroughbred Holdings, which operated Westbury Stud in Karaka and Waikato.He took control of Westbury, which was set up by businessman Eric Watson, in 2009 when he bought out property developer Michael Tololi.Harvey also owned Baramul Stud in New South Wales and had a stake...

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