Claim over $74m waterfront site as IRD hovers

The Lake Pupuke waterfront property has a CV of $74m. (Image: NZME)

Fri, 20 Sep 2024

The owner of a multimillion-dollar Takapuna property is in receivership amid a wider battle by the Inland Revenue Department to liquidate it and a group of related firms.Lakefront Investments was put into receivership this week by its security holder, Lakeside Nominees, an entity controlled by the wealthy Smale family.The company owns a 2.2-hectare empty site on the shores of Lake Pupuke, next door to North Shore Hospital. The property's 2021 Auckland Council valuation was $74 million.The North Shore Canoe Club sits on the property&rsq...

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