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The companies hope to ease some pressure on the housing market. Photos/Getty Images
Two small Auckland companies have been hit with portable and specialty homes/cabinets at the affordable end of the market, with the owner blaming Covid and low demand.
NZHousing, Affordable Homes Building Dairy Flat
Liquidation and receivership, Orewa owner and manager Ian Ralph Fotheringham confirmed.
In his first report, liquidator Greg Sheriff of Waterstone Insolvency said Fotheringhame had placed both companies in receivership and liquidation.
According to the director, the company has been associated with a group of companies
constructed tiny homes based in Derry Flat,” the sheriff wrote in his first report just now.
“The director advised that the poor business conditions caused by Covid-19 precipitated the liquidation of the company.”
Kieran Jones and Steve Kough have been named recipients.
Inland Revenue, Metal Line Roofing from Tamaki, World Coffee and Fotheringhame are known creditors to date. Sheriff cited a $40,000 shareholder loan from Fotheringhame, unsecured creditors claiming $45,000 and stockholders calling for $25,000.
It was too early to say whether anyone would be paid or what the deficit would be.
The personal property securities registry shows that United timber merchants in East Tamaki and Akarana Timbers hold securities related to building affordable homes.
In 2019, Fotheringhame told radio Kaitaia’s Te Hiku that his business could help the housing crisis because small homes could be rented to buy.
He cited a ministry in reference to an article in the New Zealand Herald on the housing crisis.
Fotheringhame said this was “a $100 million problem the government has faced, as they report that there are approximately 1,900 families in motels and emergency housing, and another 780 families in transitional housing and motels, actually paying an average of $1,500 per week.”
“So, we have a rent-to-buy scheme that we do in collaboration with MSD where it’s about $500 for a couple of cabins that is a cabin or three-bedroom accommodation, they can pay rent to buy a scheme and at the end of five years they own their own tiny house,” he said in year 2019.
She has asked The Herald MSD if she has anything to do with it and is waiting for a response.
“This can actually save the government $1,000 a week if that’s what they’re paying in a hotel, so for every client, we put one of those in, and we save them $52,000 a year,” Furingham said on the radio. Broadcasting.
When asked where to get the land, he said, “Basically, the whole scheme revolves around some access to the land. This can be put on friends, family, parents, and even older parents can put it in their children’s place in the back of their house. Instead of From that, it can be placed on Maori land as well.
“Our first test case was in the Maori area that landed in Matangi just next to Poknou and they are initially looking for 14 cabins in those blocks. This way, there is a guarantee that customers have somewhere to put this cabin in,” he said.
“The problem that MSD or the government has is that they have all these clients but they need a place to put them. So we say there are a number of properties they can put back and after five years they can take them to their land or Maori land or whatever.”
“We’ve been associated with a major financial firm to fund these things, but basically anyone can do it,” said Fringham.
The first report to the recipients has not yet been released.
Further inquiries about companies and their insolvency were made this morning to Fotheringhame directly, the Department, the liquidator, recipients and secured parties on record.