Companies headed by troubled developer in receivership

Saturday, 7 December 2024

Andrew Bendemski, previously known as Shane Beecham.

Receivers have taken control of two more companies headed by a troubled property developer previously bankrupted under another name.

Andrew Bendemski was developing subdivisions in Cashmere, Christchurch, and in Wānaka until the mortgagees of both properties put them up for sale earlier in the year over defaulted loans.

The sites have a joint market value close to $30 million and both remain on the market.

The planned Bowenvale Heights subdivision in Cashmere is owned by Bowenvale GCO Ltd, which is now in receivership. The land is also up for mortgagee sale.

Receivers have now been appointed to run Bendemski’s companies Bowenvale GCO Group Ltd, which owns the Bowenvale Heights subdivision project at the end of Bowenvale Ave in Cashmere, and engineering consultancy S5 Consulting Group Ltd.

Another Bendemski company, Blue Skies GCO Ltd - which planned the 100-section Blue Skies Estates subdivision on Johns Rd in Christchurch - was placed in receivership last month by financier Alpha First Securities.

The Blues Skies receivership includes management of the 5.5-hectare subdivision property, which is near Northwood.

An artist's impression of a house in the Bowenvale Heights subdivision planned for Bowenvale Ave in Cashmere, Christchurch.

Bendemski is a former bankrupt. He was bankrupted in May 2016 under his original name of Shane Beecham, following problems over unpaid personal bills and personal guarantees relating to his Christchurch-based Brix Group of businesses.

Beecham later began using the name Bendemski. After the bankruptcy was discharged, he began property projects mainly in the North Island, but more recently in the South Island.

The lender BizCap Ltd is behind the receivership of S5 Consulting Group, of which Bendemski is sole director and shareholder. The receivership follows the default of a loan dated June 2023.

S5 Consulting Group describes itself as handling resource and building consent applications and design work for property developers.

S5 Consulting is also the major shareholder, along with another Bendemski company, in a luxury Auckland apartment project. It is The Loxley apartment complex in Takapuna in Auckland, which Bendemski planned to build.

The land for the Stoney Creek housing development in Wānaka, centre, is up for mortgagee sale.

Bowenvale CGO Group was been put into receivership on Wednesday by lender Alpha First Securities. The lender has an August 2023 security deed over the company’s assets.

The 5ha Bowenvale block was to have been subdvided into 35 sections of 564m² to 2121m² around new roading, with architecturally designed homes built. The land adjoins the Bowenvale Reserve and is for sale by negotiation.

The Wānaka subdivision, Stoney Creek, was to have included 59 luxury townhouses near the town’s waterfront. The land was put up for sale by negotiation by lender Senior Trust Capital.

In September, another of the GCO companies, Peterborough GCO Ltd, sold a central Christchurch site with resource consent to build an 11-storey hotel on Peterborough St, near Victoria St.

The site’s new owner, property company Possum Ridge Ltd, has picked up the project and hopes to start work on the 148-room hotel early next year.

The first receiver’s reports on Blue Skies GCO, C5 Consulting Group, and Bowenvale GCO Group are due on December 15, January 7, and February 11 respectively.