Property spruiker’s home crashes hard at mortgagee auction

PHOTO: The Byron Bay home took a $600k loss.

A troubled Byron Bay home has finally sold after 500 days on market at a worrying loss.

The investment syndicate put together by the property spruiker Sasha Hopkins has seen its Byron Bay property sold for $4.4m at mortgagee auction. The 3816 sqm Paterson St holding last sold for $5m in 2021.

The Byron Bay property bought by A Team Pro founder Sasha Hopkins-backed investment syndicate has been sold. Picture: realestate.com.au

It was offered with development concept images by Paul Clout Design being one of Byron Bay’s largest lots enjoying Residential R2 zoning which permits multi-dwelling housing.

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Sharon McInnes and Paul Prior of First National secured the sale last weekend with the listing having been with other agents for 500 days.

A Team Pro founder Sasha Hopkins. Source: Vimeo

The price drop sat close to the 15 per cent standard decline that local HTW valuer Mark Lackey recently noted. The four bedroom pavilion-style house featuring two wings, was owned by Hunter Hopkins Project 7 Pty Ltd, one of the many entities within the collapsed Hopkins property investment empire.

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Its first registered mortgage was with Makro Finance, co-directed by Richard Akero. The second mortgage was to a syndicate of investors.

The home sold for $4.4m.

Short of the $5m it last traded for in 2021.

The four bedroom pavilion-style house features two wings.

The collapse has been followed by ASIC investigators freezing Hopkins’ assets in mid-2022 alleging that the company converted investor funds into cryptocurrency assets.