A portfolio of 12 South Auckland properties linked to the wealthy Nakhle family has been put on the market by liquidators, months after a High Court judge ordered two family-controlled companies be wound up.
The near-90ha landholding in Kingseat, south of Auckland, has a combined RV of more than $22 million and has been used as a thoroughbred breeding and training operation.
The listing follows an August High Court ruling placing Karaka Estate Limited and Byerley Park Limited into liquidation. The companies were established to hold land associated with the Nakhle family's extensive business interests.
The directors of both companies are Henriette Nakhle and her son Daniel Nakhle. Ownership is split equally between Daniel and Henriette's husband, Elias Nakhle.
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In his judgment, Justice Grant Powell accepted Henriette's application to liquidate the companies, which cited insolvency and an "irretrievable deadlock" with Daniel.
Daniel argued instead for court-appointed receivers to be installed so the business could continue operating.
Henriette Nakhle and son Daniel Nakhle are involved in a legal feud. Photo composite / NZ Herald graphic
Daniel Nakhle and Sybelle Nahra Nakhle in 2020. Photo / Norrie Montgomery
Speaking to the New Zealand Herald after the ruling, Daniel said he was disappointed with the decision and rejected allegations of impropriety. He said he was saddened that private family matters had escalated to this level and "spilled over into the public domain".
The dispute forms part of a bitter decade-long family feud involving Henriette, Elias, Daniel, and Daniel's brother Roger, who is married to National Takanini MP Rima Nakhle, who won re-election at the weekend.
Justice Powell noted in his judgment that Henriette and other family members alleged Daniel had misappropriated at least $40m from the wider Nakhle Group. Daniel, meanwhile, claimed he was entitled to assets worth more than $60m debt-free. The court did not determine whether either claim was correct.
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Liquidators Paul Vlasic and Derek Ah Sam, of Rodgers Reidy, were appointed following the ruling and have now moved to sell the Kingseat properties.
OneRoof approached members of the Nakhle family for comment but had not received a response by publication. The liquidators also declined to comment, as did the Bayleys agents marketing the properties.
According to the judgment, the wider Nakhle Group included businesses spanning "commercial and residential property development, building, property investment and management, home staging, hospitality, quarrying, water supply, early childhood education, tertiary education, luxury charter boat hire, farming and thoroughbred breeding and training."
Court documents show much of the Kingseat land was developed and operated by Byerley Park as a thoroughbred breeding and training facility. The business never generated a profit and was described in the judgment as "a passion project for Daniel".
The landholding on McKenzie and Sydney Owen Roads, in Kingseat, Franklin, is close to 90ha in size. Photo / Supplied
The 12 properties, which include a thoroughbred training course, have a combined RV of over $22m. Photo / Supplied
The Byerley Park website says the operation was named after Byerley Turk, one of the three foundation stallions of the modern thoroughbred, and offers a breeding operation, equine academy and training centre.
In their listing on OneRoof, Bayleys agents Peter Sullivan and Kristina Liu said the property "must be sold".
The largest of the 12 titles includes a thoroughbred training track, while other holdings feature stable blocks, hay barns, implement sheds and multiple residential dwellings.
The properties are located in the heart of Auckland's equine belt, near Westbury Stud, Haunui Farm and New Zealand Bloodstock's Karaka sales complex.
- McKenzie and Sydney Owen roads, Kingseat, Franklin, is for sale, tender closing December 9
