Former Honaover Group co-owner Mark Hotchin says he knew about a reduced rent situation central to a lawsuit he is pursuing, but “didn’t have all the information”.
Hotchin appeared in the Auckland High Court this morning via video link to give his side of the story in the lawsuit against the vendor of a retail unit purchased five years ago, saying his company OHL Limited spent nearly $200,000 evicting a pool hall tenant, the rent of which was being subsidised.
He took the stand remotely from London, giving evidence in the five-day trial against Premier Property Developments (PPD), which he says misled OHL when it bought the retail unit at the bottom of 2 Kitchener St, Auckland for $3.5 million.
The four-year-long dispute arose after OHL said the unit’s tenancy income a year was overstated because one of the tenants – Buza Limited, which operated the pool hall – was paying lower rent than marketed by the realtors.
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