Same house - new name, new address

Amanda and Mark Hotchin. Photo / Supplied

Mark Hotchin's name is no longer on the title of the $30 million Paritai Drive house which has been a lightning rod for out-of-pocket investors.

The mansion has been seen as a monument to financial excess, but changes to the large piece of real estate's legal status in early spring indicated it might be sold soon.

Under his own name, 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.

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

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

Records, last updated on November 6, show the house and land are owned by a trustee - KA No 4 Trustee - which Companies Office records show traces back to Tony Thomas.

Mr Thomas said a few weeks ago that he was Mr Hotchin's accountant and denied any sale was pending. Legal experts said the changes gave a cleaner title, far easier to dispose of.

QV says the property 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.

Company Man

Companies Office records show Hotchin is a current or past director of 196 companies. Among others, he has shares in:

* ABH Trustee Ltd
* Boxing Alley Ltd
* Paritai Ltd
* Markam Properties Ltd
* MSH Forests Ltd
* Pauanui Waterways Management Company Ltd

- His wife, Amanda Hotchin, has shares in Markam Properties Ltd.