How thrice-bankrupt real estate developer Peter Chevin ended up living in luxury in a $2million home
A longtime friendship between thrice-bankrupt property developer Peter Chevin and high-profile real estate agent Martin Cooper may seem unlikely, but now there’s another connection: Cooper says he’s Chevin’s landlord.
The Reed Myers saga caused a lot of stress for first-time buyers, a development on Red Hills Rd in Massey was subject to a Resource Management Act slash notice, and the landowner of the other land on Triangle Rd says a Reed Myers development is not being built there.
Meanwhile, first-time home buyers invested in their developments are finding themselves falling behind on the real estate ladder as prices soar and they are unable to use their deposits for anything else.
But while the early homebuyers involved were left in limbo, Chevin – who would control Reed Myers – profited from the use of a spacious, $2 million four-bedroom house in the upscale Ōrakei neighborhood that overlooks Rangitoto Island.
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Cooper says he has known Chevin for 25 years. He says Chevin chose the house, but couldn’t afford to buy it, so Cooper bought it instead.
Chevin has gone through four bankruptcy proceedings (one was later overturned) and won several convictions along the way, including on nine counts related to the theft of public funds in 2016.
Cooper & Co’s Harcourts franchise is a notable presence in Auckland, and he is a go-to voice in the media on property issues.
He considers Chevin’s house an investment property and says Chevin is paying market price for the rental.
“He was going to buy the property and he couldn’t afford to buy it, I thought it was a good deal so I bought it and have it as a tenant in the property and that’s fine with me .”
Chevin is banned from managing or operating a business until October 2026. He is believed to be the controlling force behind property developer Reed Myers, but he has always maintained that he is a resource management consultant for the company and that he neither manages nor controls it.
The development of Reed Myers Triangle Rd has been subject to Thing story last week where first-time home buyers thought they were witnessing construction work on their home, but were unaware that Reed Myers had failed to settle payment on the land.
Without payment, the landowners, Eddie Simpson and Annie Zaloum, decided to go ahead with their own project.
On Tuesday, One Stop Property agent Sandy Williams emailed buyers saying Cooper was stepping in to settle a situation with Reed Myers while developing the business on Triangle Rd.
“I have spoken to Martin Cooper of Cooper and Co and he has given me permission to state that he is now assisting Reed Myers in resolving the issue with said Eddie Simpson party,” Williams wrote.
“He has a meeting with Eddie this week and he’s going to do everything he can to help all my buyers get into their homes at 215 Triangle Road Massey.
“Martin said these negotiations could take up to three weeks. Also, make sure your deposits are safe and held in the lawyers’ trust account.”
However, Cooper says he has no plans to meet Simpson and denies giving Williams permission to send the message on his behalf.
“I called her.. and said I read the article and it was no good… I didn’t give her permission to send that email, but I said ‘look, I know Eddie, I’m happy to go talk to Eddie and try to make him listen to reason.’
David White stuff.co.nz
Serious allegations are being made around a housing development that is way behind schedule.
Simpson says he barely knows Cooper and hasn’t heard from him this week.
However, he says Chevin got in touch and mentioned Cooper’s name.
“Peter Chevin contacted my finance and said something similar: that Martin Cooper wants to buy the land.
“No one has spoken to me. The land is not available. They are not getting it. It is not available.”
Simpson says he has already invested too much money in the land and does not know how much the civil works will cost once they are completed.
Williams declined to comment on the email.
Cooper’s ties to Chevin and the development of Reed Myers Triangle Rd go back many years,
Cooper’s company, Foster Crescent Limited, owned the land and sold it to Simpson and Zaloum.
The liquidator’s report of a company called 217 Triangle Road Limited, which went into liquidation in November 2019, notes that the land at Triangle Rd was difficult to develop due to the contours of the land, the presence of an electricity pylon “massive” on the property, the high voltage power lines that tower over it and the fact that it is located right next to a large electrical substation.
The liquidator, Kevin Davies of Principle Liquidation, was able to prove Chevin’s influence over the company by finding a shareholder consent form that Chevin had submitted to the Companies Office.
Chevin was still able to log into the Companies Office website and update shareholder details
As for Cooper, he says he’s just giving Chevin a second chance.
“If I were to just read Peter Chevin’s Google charts, you wouldn’t approach him with a barge pole, I accept that.
“But he’s a family man, he’s been married and has four kids, I know a bit about his personal life over the 25 years he’s known him. I’ve had a reasonably good working relationship with him.”