Adamson has now sold his Auckland home. Photo/Nick Reed
Adamson has now sold his Auckland home. Photo/Nick Reed
Former Fletcher Building boss Mark Adamson has sold his home in Auckland's eastern suburbs for $1.7 million more than he paid for it.
Marnie Adams of One Agency Luxury Property was the sole listing agent for the property in St Heliers, which she said she had sold earlier this yearfor close to $5.6m.
The home at 16 Lammermoor Dr, sold for $5.55m.
The money was paid in February, she said, and was settled after an offer last year. A Kiwi couple had bought it. Adamson was now living in New York's Manhattan and she planned to visit him there, she said.
Adamson has now sold his Auckland home. Photo/Nick Reed
He had bought the property for around $3.8m, she said.
Auckland Council shows a current CV as $5.1m last July from a $2.82m site with $2.27m in improvements. Rates are an annual $10,217.48.
The five-bedroom place has off-street parking for six vehicles, council information says.
Adams said although the house sold for considerably more than Adamson had paid for it, the difference was not necessarily sheer profit.
"He spent a lot on it, putting in an outdoor cooking area," she said, referring to an inbuilt BBQ area and outdoor fireplace. "He also re-engineered the garage, put in a gym and a media room downstairs."
Last August, it was revealed Adamson was paid a $2.9m exit package when he left the company abruptly in July. Details of the payment were revealed in the annual report. Although he forfeited $8m of bonuses held in a long-term share scheme, he got $2.94m on his departure in severance and other entitlements.
Adamson left the company immediately after a second earnings downgrade at the troubled builder, materials manufacturer and supplier.
Australian Ross Taylor was appointed Fletcher Building's chief executive last year.
