Archive | Marsden Pt

Tender opens for Marsden City land

A tender for the 83ha developer Oliver Scott aggregated at Marsden Pt for his Marsden City project will close with Bayleys on Thursday 27 August.

The land is in 88 titles, with resource consent to subdivide further, and is zoned for residential, commercial & industrial.

BDO Auckland partner Brian Mayo-Smith was appointed receiver on 21 May of 3 of Mr Scott’s companies which own the land – NH Infrastructure Ltd, North Holdings Development Ltd & North Holdings Investment Ltd. 2 other Scott companies, Marsden City Ltd & Marsden City Developments Ltd are overdue for filing annual returns and are at risk of being removed from the Companies Register.

Mr Scott has worked on his Marsden City dream for several years, envisaging a start to construction 2 years ago that would create the first 4400 jobs in a city he believed could grow to a population of 40,000, 40km south of Whangarei and 130km north of downtown Auckland.

Stage 1 of the development was to have 22,000m² of retail space & 20,000m² of other commercial activity, 250 house lots, 150 apartments above retail and a variety of industrial uses.

Bayleys agents Scott Kirk (Auckland) & Duncan Napier (Warkworth) are handling the tender.

Links: Marsden City land (receivership sale site)
Marsden City

Attribution: Tender notice.

Continue Reading

Northland Port changes name to Marsden Maritime to reduce confusion

Northland Port Corp (NZ) Ltd will change its name to Marsden Maritime Holdings Ltd, effective Monday 4 August.

The company said on Friday it was making the change to reduce ongoing confusion between its operations & interests and those of Northport Ltd, the deepwater port at Marsden Point owned jointly by Northland Port Corp & Port of Tauranga Ltd. It would also better reflect the company’s various marine & property interests.

Marsden Maritime Holdings will remain the designated port company.

Chief executive Graham Wallace said: “While Northport is a vital part of our asset portfolio, it is not the only part. Our substantial property assets absorb much of our focus, and recently we acquired the neighbouring Marsden Cove marina, which we intend to use to help develop activity on our landholdings.

“The company’s new logo speaks to this diverse array of interests – blue represents the ocean, green depicts the land and yellow stands for the coastline that unites them.

“Our new name & logo better reflect our vision for the greater Marsden Point area and we believe it will convey this ambition more effectively to potential business partners & the investment community.”

Attribution: Company release.

Continue Reading

Hopper sells Marsden marina to port company

Northland Port Corp (NZ) Ltd said yesterday it had reached conditional agreement with Hopper Developments Ltd to acquire the freehold title of the 230-berth Marsden Cove marina & adjoining commercial complex for $6.95 million.

The port company said it would fund the purchase with a mix of equity & bank debt and envisaged the acquisition would be effective on 1 July.

The transaction covers freehold title to a 6.2ha hectare area comprising 4.5ha of marina & 1.7ha of land & infrastructure next to Northland Port’s landholdings at Marsden Pt, at the entrance to Whangarei Harbour.

The purchase includes 1100m² of commercial & retail space and a 2-level building which accommodates the marina office & berth-holder facilities.

The agreement excludes any of the residential land associated with Hopper Developments’ neighbouring housing estate at Marsden Cove.

Northland Port chief executive Graham Wallace said ownership of the marina would help the company open up a second front of development on the adjacent land that it owns: “It’s an important gateway to this area of our landholdings. By promoting the growth of new marine service businesses at the marina, we plan to stimulate new demand on our land from a range of potential downstream service & retail providers.”

Mr Wallace said ownership of the marina’s freehold title was a significant differentiator, as other marinas were almost invariably operating under some form of leasehold title. This would give the company the ability to respond quickly to market demand, adding value to the infrastructure already in place by developing it to maximise appeal to boat owners & businesses wanting to establish themselves there.

The marina’s infrastructure includes mooring with customs facilities, a fuel dock and a range of waterfront retail services catering for the marina, boat owners & the neighbouring residential community. The Marsden Cove marina complex also has one of Northland’s most popular public boat ramps.

Mr Wallace said Northland Port intended to undertake further phased development of the site. Potential development opportunities included a vessel haul-out facility, a dry-stack storage system for smaller boats, marine chandlery and a wide range of servicing facilities.

“The quality of the assets we’re buying – prime waterfront land with an established infrastructure – is testament to the values & standards of Hopper Developments.

“The opportunity exists to make Whangarei Harbour in general, and Marsden Cove Marina in particular, the destination of choice for long-distance yachties arriving in and departing from New Zealand – and an attractive option for boat owners closer to home looking for an alternative mooring with a wide selection of marine facilities, close to a major centre and with easy access to & from Auckland.”

Attribution: Company release.

Continue Reading

Port of entry status boosts Marsden Cove

Published 31 October 2008

Marsden Cove, the Hopper Developments Ltd marina & canals creation just inside the Whangarei Heads, has gained a new status that will make the whole Whangarei area more attractive for yachting business.

 

Marsden Cove gained NZ Customs port of entry status last week, a status previously held in the north of New Zealand by Opua, in the Bay of Islands, & Auckland.

 

“Vessels that use Marsden Cove marina as their entry point will now enjoy the convenience of an international-standard marina. Crew can step ashore and arrange to have their craft worked on by the diverse shipbuilding & servicing companies located nearby,” Hopper marketing executive Paul Shanahan explained.

 

Hopper Developments launched the canals project in spectacular style in 2005, with an auction on a Saturday afternoon in May at which 51 of the 100 lots in stage 1 were sold for $27 million.

 

Stage 1 is now complete and the company is working on the plans for stage 2, which will require a lock to open up sections around new canals, is close to completing a retail block and is designing a 200-unit apartment development overlooking the marina. Behind the apartments a retirement village is planned – on a canal – similar to one for which Hopper is awaiting consent at its Whitianga Waterways project.

 

Hopper added a canals subdivision to its already-successful Pauanui development in 1990, then got the restricted coastal permit it required to proceed with the Whitianga Waterways canals-based subdivision, a short distance up the Coromandel coast, in 2001.

 

But the links to international yachting – especially boats coming down from the South Pacific – tied in with a capacity for servicing them and the proximity to Auckland give the Northland development extra dimensions.

 

Around most of Auckland, it’s a major exercise for a council to decide to put in a boat ramp, and the cost is a big deterrent. Hopper Developments managing director Leigh Hopper has trouble understanding that thinking and the notion that a marina should be gated territory, as Westhaven’s piers are.

 

“We’ve put in a boat ramp and it’s now the busiest ramp in Northland – 4-500 boat movements/day at the weekend over summer. Retail beside the ramp will be open for Christmas, including a café, the Coastguard & marine servicing facilities, a hairdresser/beautician, marine broker, real estate agency & a superette, a bait & fishing tackle shop and a sales & service boatyard.

 

“We’re getting to the point where we’ll have the infrastructure to give it pull and provide ambience. The new Customs berth will open from this Saturday, 1 November (though Customs has already started work there) and we want to extend the retail area.

 

“At least during daylight hours, the public will be able to walk down the marine area. At Westhaven in Auckland, it’s a tourist attraction yet we close it off. It’s a magnet which will help us to do better business in the retail and to provide that ambience.

 

“In the carpark we’ll provide campervan connections, so we’ll be on the campervan trail as well.”

 

In short, selling a marina-based product is far more than taking money for a section.

 

Mr Shanahan said the new Customs status might not seem too momentous, but it followed a great deal of lobbying by the Whangarei Marine Services Group. “Whangarei has long been overlooked, missing out on its share of the growing & lucrative market to service international cruising craft.

 

“When it comes to refitting superyachts, New Zealand ranks third in the world behind the Netherlands & Italy, but mostly that work goes to Auckland. Whangarei should prosper as a consequence of this decision. On the back of this news, one of the larger superyacht refit companies reports that 4 large craft are due in for work during December & January, with another 2 about to confirm.

 

“With the Louis Vuitton Cup & Millennium Cup races scheduled for January & February, there will be a bigger than usual fleet of large luxury craft making its way to New Zealand, potentially bringing a lot of business to the local marine industries.”

 

Marsden Cove has its own schedule of summer activities, starting with its boat show on the weekend of 8-9 November, initiated last year when 7000 people visited, renamed the Northland Boat Show this year to reflect greater participation by local companies, especially the Whangarei Marine Promotions Group.

 

Northland Port Corp subsidiary NorthPort, operator of the Marsden Point container wharf closer to the Whangarei Harbour heads, was initially a joint venture partner with Hopper in Marsden Cove, but completed the sale of its interest back to Hopper at the end of last year.

 

Also partly on the back of the marina & canals subdivision’s success, a number of lifestyle developments have been promoted in the Marsden Pt-Bream Bay area and schemes are being devised for urban development in the area.

 

While some of those are in their early stages – and susceptible to the property & financing downturns – Mr Shanahan said Hopper was partially cocooned from financial turbulence by being low-geared and having its own construction company, which does all its earthworks.

 

“It’s done work for other developers, but in these times will be redirected to work on Whitianga Waterways & Marsden Cove. Marsden Cove has stage 2 to come on stream with 55 sections in 2010 and we have a strong feel of demand for that.”

 

Websites: Hopper Developments

Marsden Cove

 

Earlier stories:

1 September 2008: Marsden Pt rail designation process set to start, port company disappointed at industrial land outcome

14 February 2008: Marsden Cove sales boost Northport earnings, industrial land sales next

26 Septenber 2007: Northland Port exits Marsden Cove joint venture

1 May 2005: Marsden Cove auction reaps $27 million

28 April 2005: Unusual auction launches new Hopper canals project at Marsden Cove

24 January 2005: Marsden Cove marina village gets minister’s approval

 

Want to comment? Email [email protected].

                                       

Attribution: Interview, story written by Bob Dey for the Bob Dey Property Report.

Continue Reading

Marsden Pt rail designation process set to start, port company disappointed at industrial land outcome

Published 1 September 2008

Northland Port Corp Ltd said today it’s reached agreement with Ontrack on where the Oakleigh-Marsden Pt rail route should run and the formal designation process will start soon.

 

Chairman Mike Daniel said the company would apply to the district & regional councils shortly to begin the process.

 

Mr Daniel said he was disappointed in the outcome of the company’s efforts to encourage development of land next to the port: “Discussion has continued during the last 6 months with parties interested in developing areas of the industrial land adjacent to the port, but disappointingly changes in the market & other issues have delayed the satisfactory outcome.”

 

Mr Daniel made his comments as he announced a $720,000 increase in Northland Port Corp’s surplus for the June year, to $10.049 million (23.12c/share, up from 21.46c). Both years’ results contained large one-offs. In 2007, the port company collected $5 million from initial sales of sections in the Marsden Cove marina & waterway subdivision and another $1 million after terminating the Northport Services joint venture with Carter Holt Harvey Ltd. This year, the port company made a $7.6 million gain on sale of its 50% interest in Marsden Cove Ltd to its partner, Hopper Developments Ltd.

The port company is paying a reduced final dividend on top of a lower interim, but will pay a special dividend from sale of its interest in Sea-Tow and is still looking at how to treat final proceeds from Marsden Cove.

 

Northland Port sold its 50% of Sea-Tow 3 years ago, swapping for $5.525 million of debt. That bill was settled on 13 August, when Sea-Tow’s international business interests were sold to Pacific Basin Shipping Ltd, of Hong Kong. Northland Port’s fully imputed final dividend is 5c/share (6c last year), taking the year’s total to 8c (11c). A 12c special dividend will be paid the same day, Friday 26 September, from the proceeds of the Sea-Tow settlement. Mr Daniel said that payment wouldn’t be imputed because the company didn’t have enough credits available. Final cash proceeds of $6 million from the Marsden Cove sale are due in October, and Mr Daniel said directors would consider how best to use those funds at that time.

 

Want to comment? Email [email protected].

                                       

Attribution: Company statement, story written by Bob Dey for this website.

Continue Reading

Northland Port exits Marsden Cove joint venture

Published 26 September 2007Northland Port Ltd has agreed to sell its 50% shareholding in marina & waterway developer Marsden Cove Ltd to joint-venture partner Hopper Developments Ltd.

Northland Port chairman Mike Daniel said the $10.6 million sale price included a gain in excess of $7 million. Hopper will pay 2 instalments, the first of $4.6 million on 20 October, the $6 million balance (secured by mortgage) on 20 October 2008. In addition, $1.7 million in advances to Marsden Cove will also be repaid on 20 October 2007.  Mr Daniel directors of the port company felt that, with the initial development phase completed and the likely length of time until the completion of stage 2, it was an appropriate time to exit the investment.

Want to comment? Click on The new BD Central Forum or email [email protected].

Attribution: Company statement, story written by Bob Dey for this website.

Continue Reading

Freehold 55ha at Marsden Pt goes to tender

Published 11 August 2007

Carter Holt Harvey Ltd has put 55ha of industrial land at Marsden Pt up for sale by tender through Bayleys.

 

Carter Holt bought the former Nash Farm at 60 McEwan Rd in conjunction with Northland Port Corp, which has taken the balance of the property. Carter Holt had earmarked its 55ha for a new sawmill but it became surplus to requirements after the company bought TDC Sawmills at Whangarei in December.

 

The tender, closing Friday 31 August, is being handled by Stuart Bode & Rod Macfarlane at Bayleys’ head office in Auckland and Lloyd Budd in Whangarei.

 

Carter Holt also owns a leasehold interest in 17.8ha of business 4 land next to the refinery & port, which it uses for its laminated veneer lumber manufacturing operation.

 

5 businesses – Carter Holt, Northport, NZ Reining Co Ltd, Mighty River Power & Comalco – own 80% of Marsden Pt’s 992ha of commercial & industrial-zoned land.

 

Mr Bode said one of the key attractions of the Carter Holt site for sale was that it’s freehold – Northport’s nearby 185ha of port-zoned land is owned by the port company and is primarily available to port users on leasehold.

 

Under the heavy industrial zoning, the Carter Holt property could be used for a range of heavy industrial applications, including manufacturing & processing, and could appeal to both developers & owner-occupiers.

 

Mr Macfarlane said many businesses historically based in the Auckland region and looking for new premises were being forced to consider basing their operations elsewhere due to rising land prices in Auckland and a shortage of sufficiently large & suitably zoned properties available for purchase.

 

“With increasing immigration and rapid take-up of both industrial & residential land in Auckland, import & export businesses are looking elsewhere to take advantage of strategic infrastructure & lower land costs.

 

“Base values for industrial land are substantially lower at Marsden Pt – $150-200/m², versus upward of 200/m² for secondary land to in excess of 500/m² for prime locations in the Auckland region.

 

“A comparison with Tauranga, where values of $235-300/m² were achieved in 2006, further reinforces the fact that Marsden Pt offers a competitive advantage over other industrial locations and there is considerable potential for future capital growth.”

 

The Northland Rgional Council approved paying a one-third share of a proposed $10 million Marsden Pt rail link designation in March.

 

Want to comment? Click on The new BD Central Forum or email [email protected].

 

Attribution: Company statement, story written by Bob Dey for this website.

Continue Reading

Marsden Cove auction reaps $27 million

Published: 1 May 2005


Hopper Developments Ltd’s latest canals project got off to a spectacular start on Saturday afternoon, when 51 of the 100 lots in stage 1 of Marsden Cove were sold for $27 million.



Marsden Cove Ltd, which has begun earthworks for the project just around the corner from the Marsden Pt port and the oil refinery on the south side of the entrance to Whangarei Harbour, is a joint venture between Hopper Developments Ltd & Northland Port Corp (NZ) Ltd.


But the Saturday afternoon event was a Hopper show as the managing director of New Zealand’s only canals development company, Leigh Hopper, got up on stage with the chalkies to mark up bids after outlining the project & the group’s history of quality development.


The auction itself was run by former Bayleys auctioneer Ross Foreman in his first experience with the buyer’s choice auction system. About 200 potential bidders registered for the auction, though as far as I could see probably fewer than half that number made bids in the onsite marquee. Bidders seemed to have no trouble adjusting to the novel system.



In the main one-hour auction period, all 100 lots were put on the market simultaneously and after 30 minutes about 30 sites had bids marked against them, with competing bids coming on a few. Each bid was written on a card for delivery to the chalkies.


After 40 minutes, the most expensive site, lot 60, was taken out of the written bidding process and put up for live bids and was sold for just $5000 more than the $1.7 million reserve.


One investor who ended up with 3 purchases unsettled another one trying to buy 2 prominent adjoining sites, contributing to a rise of $194,000 above the combined reserve prices before the 2-lot buyer won out.



Most of the non-canalfront lots sold in the auction went for the reserve or a small amount above it, in a range of $240-280,000, though bidding took one $270,000 lot up to $310,000.


Many of the canal-fronting lots also went for the reserve or a small premium, but the process brought out competitive bidding on about a dozen.


With 5 minutes of basketball-style clock time to go before the auction was over, there were bids on 33 sites. Bids went in on another 18 sites, and competing bids were entered in many, in the 5-minute countdown, with the clocked stopped for auctioning to go live at a few points in the countdown.



Post-auction asking prices will be higher – for a start, all buyers of canalfront sites at the auction got a $25-30,000 jetty thrown in. Most were priced for this event in a range from the low $600,000s through the $800,000s, with a handful over $1 million.


Marsden Cove will eventually have about 700 residential sites built in 10 stages. All stages beyond this first one will have water access through a lock. Title for the stage 1 sites will be released in 2006 and berths in the 250-berth marina will go on the market early in 2006.


Websites: Hopper Developments


Marsden Cove


 


Related stories:


28 April 2005: Unusual auction launches new Hopper canals project at Marsden Cove


24 January 2005: Marsden Cove marina village gets minister’s approval


30 May 2004: Whitianga Waterways entry gets cut on Tuesday


20 June 2001: Whitianga Waterways decision imminent


 


If you want to comment on this story, write to the BD Central Discussion forum or send an email to [email protected].

Continue Reading

Northport to proceed with Marsden Pt expansion

Published: 18 April 2005


Northport Ltd has decided to proceed with its $30 million 3rd wharf & reclamation at the Marsden Pt terminal, awarding the contract to the Fletcher Construction Co Ltd.


Northport, a joint venture between Northland Port Corp & the Port of Tauranga Ltd, got consent for the project last November. It will add 180m of wharf plus 3ha of land reclamation. Work will start on the side in mid-2005 for completion in early 2007.


If you want to comment on this story, write to the BD Central Discussion forum or send an email to [email protected].

Continue Reading

Marsden Pt deepwater port agreements reached

October onsite start envisaged

Major agreements were reached Wednesday to enable work to start on the new deepwater port at Marsden Pt, which will be owned jointly by the Port of Tauranga and Northland Port Corporation through a new company, Northport Ltd.

The chairman of both Northland Port and Northport, Mike Daniel, said the two shareholders would contribute half of the $30 million initial capital each.

The Marsden Pt port will cover 15ha. On completion in April 2002, the new company will also take over running the port in Whangarei.

Carter Holt Harvey has agreed to put 1 million tonnes of forest product through the new port a year and will take a one-third shareholding in a new on-wharf services company, Northport Services, with Northport holding the other two-thirds.

Fletcher Construction has won the building contract and is obtaining building consents and finalising design details, with a start on the rock wall due next month.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux