Sections in the Fairways and Links Nine parts of the site are not part of the offering, according to Colliers' document.
The Kinloch Golf Course project was large and required big capital but little of the land surrounding the golf course has been developed.
Sales have been sluggish and few of the 176 sections have sold.
Hanover Finance is New Zealand's largest private lender and thousands of Kiwis have invested $2.85 billion with the business in the last five years.
Brett MacLean, one of New Zealand's most experienced and successful developers, said yesterday he was in charge of Kinloch at Hanover's request. MacLean, general manager of Kinloch Golf Resort, said it was a shame about the project but the economy had changed.
"Things like this in this environment are the first casualty," he said.
Goddard said Colliers had 40 expressions of interest, had advertised the property in the high-profile Estates Gazette and was fielding calls from London and Korea.
The financier was not desperate to quit, Goddard said.
"Hanover has said if they don't get a certain price, they won't sell."
Last year, former Hanover chief executive Sam Stubbs said his company had a first mortgage over the project. FE Investments, half-owned by finance company First Eastern Finance, was the secondary backer.
"Hanover is comfortable with its position as a secured first mortgage holder. There have been several expressions of interest in the site from various Asian interests," Hanover said yesterday.
Early last year, about 350 media and guests were invited to Kinloch, a Nicklaus signature golf course and the only Nicklaus course in New Zealand.
Nicklaus, the winner of 18 PGA golf majors, has visited five times and declared it his best golf course.
Twenty-five golf courses around the world carry the champion's name and Colliers is marketing the property as highly prestigious.
"Kinloch is a links-style experience with naturally rolling contours mixed with the openness and panoramic views of this unique and stunning site.
"Blend in the constantly changing elements of New Zealand and Kinloch provides more than just a taste of the golf played in Scotland a century ago," Colliers says.
The project was to be developed by William Ormerod, the managing director of Kinloch Golf Resort Ltd, and his partner Jean-Paul Pavlovic.
But late last year, reports emerged saying the developers were under financial pressure, although Hanover said in response it was happy with its involvement.
Ormerod said yesterday only 28 of the 176 sections had been sold and just two houses had been built. Colliers' sale list showed 36 sections were sold.
"Hanover is pushing the sale side of it at the moment and I've stepped back from it.
"The business cycle has changed a lot in the last 12 to 18 months, credit has got a lot tighter and that's impacted on real estate significantly," Ormerod said.
Hanover has also provided funding for a number of other large development projects, including the $2 billion Jacks Point near Queenstown and the A$300 million Sansara Resort in Queensland.
The development was planned to be finished at the end of last year.
Although Sansara has been delayed, Hanover chairman Greg Muir said this month the financier had no issues with the project. Mijo, the developer, is now due to start building more than 100 apartments, 18 shops, a cinema, conference centre, creche and pool.
UP FOR GRABS
* 18-hole golf course and club house: $18 million
* 68 residential sections, each worth $535,000: $36.2 million
* Lodge/hotel site, clubhouse and 50-unit villa complex: $3.5 million
* Total: $57.7 million
