'Neverland' block on the market

Block of land at number 14-30 Waimarie Street, St Heliers that is up for sale. Photo / Dean Purcell.

It was to be a development so huge it was nicknamed Neverland, but now nearly 1ha of St Heliers land has been put up for sale.

PR executive Sarah Sparks and her property developer husband, Greg Olliver, who are now separated, once owned neighbouring properties on Waimarie St.

They are now on the market in a deal some real estate experts think might fetch $10 million-plus.

In 2007, Mr Olliver planned to develop an intensive residential scheme on 18 properties, including the ones for sale.

The first stage was to be 20 luxury apartments at $5 million each, stepped down a slope in five-tier blocks and with 70 car parks.

He was also planning his own mansion, Waimarie House.

Property records show 14 14a, 16 and 20 Waimarie St are owned by Glover No2, which Companies Office records show is directed by Mr Olliver. Records show that 16a, 22, 28 and 30 are owned by CIT Holdings.

The Companies Office says CIT Holdings is directed by Sarah Olliver - who works under her maiden name, Sarah Sparks. Ms Sparks said those records were out of date and referred to several trusts now owning the properties. She said she was no longer a director of CIT Holdings.

Developers or "high net worth individuals" are being encouraged to view the properties as one building site, or as individual properties.

They are said to be generally acknowledged as the best block available in the eastern bays. Much of the land does not have any houses on it.

The properties are 8945sq m of land on nine titles with views over the bays.

Tenders close on March 25.