Hotchin titles amalgamated to prepare for sale of Orakei mansion

Mark and Amanda Hotchin. Photo / Supplied

Mark Hotchin, ex-Hanover boss and holidaying Hawaiian refugee, is preparing his Orakei house for sale in the summer.

And from Hawaii, he went to Rome and was now living on the Gold Coast, his spokesman said this week.

But his name is no longer on the title of the Paritai Drive house which has been a lightning rod for out-of-pocket investors, seen as a monument to financial excess with builders swarming over the place while investors cried poverty.

But changes to its legal status lately indicate another sort of action.

Mr Hotchin bought three neighbouring Paritai Drive sections and amalgamated them for his vast family home, expected to have a finished value of about $30 million.

Now, QV records show all the titles have been merged into one new title with no sales history, a new address and new owner.

Instead of the sections tagged as Paritai Drive, the plots are all listed as being 4 Huriaro Place, taking an address from the street behind.

Records show the house and land are owned by a trustee - KA No 4 Trustee - which traces back to Tony Thomas, Companies Office records show.

Mr Thomas said he was Mr Hotchin's accountant and denied any sale was pending. Legal experts said the changes give a cleaner title.

QV says the whole place is worth nowhere near $30 million.

The valuation authority has put a tag of $18 million on the entire property of which $13 million is land value.

In June, Hotchin spokesman Klaus Sorensen said a sale was likely.

"It's no longer appropriate for Mark and Amanda to occupy the house. People can draw their own conclusions why they're selling, but most of them are fairly obvious."