19 Oct 2010

French Polynesia sells Auckland estate cheaply

10:30 am on 19 October 2010

French Polynesia has compromised heavily on the sale of an Auckland estate, selling it for around 3.8 million US dollars, instead of the 5.8 million the territory paid for it five years ago.

The 144-year-old Epsom mansion, Rocklands, is sold to a company called Salomon Building Ltd.

According to the Tahiti infos website the sales agreement gave a settlement date of 22 December.

The now deposed territorial president Oscar Temaru bought the estate in 2005, intending it to be used as a hostel for Tahitians travelling to New Zealand for medical treatment.