Property spruikers home crashes hard at mortgagee auction
The investment syndicate put together by the property spruiker Sasha Hopkins has seen its Byron Bay property sold for $4.4m at mortgagee auction. The 3816 sqm Paterson St holding last sold for $5m in 2021.
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It was offered with development concept images by Paul Clout Design being one of Byron Bay’s largest lots enjoying Residential R2 zoning which permits multi-dwelling housing.
Sharon McInnes and Paul Prior of First National secured the sale last weekend with the listing having been with other agents for 500 days.
The price drop sat close to the 15 per cent standard decline that local HTW valuer Mark Lackey recently noted. The four bedroom pavilion-style house featuring two wings, was owned by Hunter Hopkins Project 7 Pty Ltd, one of the many entities within the collapsed Hopkins property investment empire.
Its first registered mortgage was with Makro Finance, co-directed by Richard Akero. The second mortgage was to a syndicate of investors.
The collapse has been followed by ASIC investigators freezing Hopkins’ assets in mid-2022 alleging that the company converted investor funds into cryptocurrency assets.
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The property spruiker’s A Team Property Group had topped the Australian Financial Review’s Fast 100 list as it moved from being a “property education” business into joint venture development opportunities. ASIC allege investors were told of guaranteed returns of 25 to 50 per cent.
Originally published as Property spruiker’s home crashes hard at mortgagee auction
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