Three apartments in the Parkbridge apartment complex on Park Terrace will go under the hammer in a mortgagee auction.
Parkbridge was built by developers Sharon Bartlett and Murray Blackmore, who bought the historic site on the corner of Park Terrace and Bealey Avenue in 2002. Murray Blackmore, husband of former Christchurch City councillor Paddy Austin is a shareholder.
The complex has 19 apartments in three buildings; the historic 1912 McKellar and 1926 Fleming houses and a new building linking the two.
The total indebtedness is unknown, but a finance company is owed $2m under a mortgage over just one of the apartments.
Bartlett and Blackmore are also selling Daresbury, their 1901 Fendalton mansion (below).
Updates:
Fancy city flats fail to sell - The Press, 09 May 2008
Park Terrace Apartments Ltd put into liquidation by IRD - The Press, 22 July 2008
Developer's empire unravels: The Press, 26 July 2008
Fancy city flats fail to sell - The Press, 09 May 2008
Park Terrace Apartments Ltd put into liquidation by IRD - The Press, 22 July 2008
Developer's empire unravels: The Press, 26 July 2008
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