- Two Palmerston North properties linked to Ashley Dean Binnie sold for $403,000 after a mortgagee auction.
- Binnie’s companies went into liquidation owing over $2m, leading to the forced sale.
- A third property in Mangakino is also being sold by mortgagee sale, with a deadline of June 17.
Two mortgagee properties linked to high-profile property flipper and social media influencer Ashley Dean Binnie have sold together for a combined $403,000 after a fast-paced auction.
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Bargain hunters filled Harcourts’ Palmerston North auction room on Thursday morning to bid on the two abandoned projects.
Binnie’s company Ascend Advisory Limited – previously known as AshleyDean Limited – bought the two neighbouring Stephens Crescent houses from the Government in September last year for $480,000, below the combined RV of $620,000.
But the properties were back on the market last month in a forced sale after Ascend Advisory and another Binnie company, Atlas Holdings, went into liquidation owing more than $2m. At the time of liquidation, Ascend Advisory had three properties registered to it, including the two Palmerston North properties being sold by the mortgagees.
The properties were sold together and marketed as an "abandoned project". Photo / Supplied
The listing for 35 and 37 Stephens Crescent, in Highbury, described the properties as an “abandoned project” suitable for DIYers and developers.
The three-bedroom homes sat on a combined site of just over 1000sqm. Listing photos show the interiors were stripped back to the frames, and that the gardens were overgrown with weeds.
Harcourts auctioneer Jamie Madigan, who was also one of the listing agents for the properties, told the auction room the properties were a “DIY dream”.
There appeared to be more than a dozen bidders – some phoning in – hoping to snap up the do-ups, which were being sold as a pair.
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The auction opened at $80,000 before jumping up to $150,000. Bidding continued in increments of $50,000 and then $20,000.
The auction paused at $388,000 and resumed just minutes later after a bid of $400,000 was made.
Madigan confirmed the property was on the market, prompting two more tiny bids. The property was announced on the market at $403,000 and sold for the same amount, after almost 20 bids.
Meanwhile, a third property at 54 Huamai Street, in Mangakino, owned by Ashley Dean Limited, is being sold by mortgagee sale, with a deadline of June 17.
Property flipper Ashley Dean Binnie’s company bought the properties before being placed into liquidation earlier this year. Photo / Supplied
Binnie’s company paid $175,000 for the four-bedroom 1950s property in September 2021 and carried out an interior renovation on the home. He put it back on the market in 2022 and has been looking on and off for a new buyer ever since. It was most recently inviting buyer enquiry over $450,000 before it was pulled last month and relisted a few weeks later with local agency Remax Revolution as a mortgagee sale.
Binnie is well known in investor circles for his YouTube channel, AshleyDean, which has been scrubbed clean of all content since OneRoof published a story about his financial woes last week. His videos, titled “How to Flip Houses with Absolutely No Money”, “I Flipped The Most Rundown House in Masterton” and “How I use AI to create $60k property deals in 10 minutes every day”, offered tips to property newbies and often highlighted how much profit he’s made from flipping homes.
He also made his money selling property coaching courses, finding flips for clients and carrying out renovations on their behalf with the promise that they would resell them for a profit.
OneRoof reported this week that Binnie featured Du Val Group founder Kenyon Clarke in one of his viral videos.
Clarke and his wife, Du Val Group co-founder Charlotte, have had their assets frozen and their passports seized by the court as part of an investigation by the financial watchdog into the collapse of their property development companies in 2024. The group of about 70 entities owe more than $300 million to hundreds of people.
Ashly Dean Binnie and Kenyon Clarke in a screenshot from Binnie’s video, posted on YouTube late last year. Photo / Supplied
However, the investigation has not stopped Clarke from providing his personal views on matters unrelated to Du Val.
In a video posted on YouTube in October 2025, property trader and coach Ashly Dean Binnie (who goes under the name Ashley Dean) asks Clarke for help.
OneRoof reached out to Clarke and Binnie for comment, but they had not responded at the time of publication.
However, the video and Binnie’s social media channels have been deleted or hidden from public view since OneRoof reported on Binnie’s financial troubles.
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