The 45ha site of the former Marsden B power station at Ruakaka in Northland has been sold for $8.5 million.
The 250MW oil-fired power station, overlooking the beach at Ruakaka near the Marsden Point oil refinery, was mothballed in 1978 without being commissioned and eventually became the property of Mighty River Power Ltd. The plant was sold in 2012 to United Telecoms Ltd of Bangalore, India, dismantled & shipped to India. The Marsden A power station, also oil-fired, was largely dismantled in 1997-98 and the job finished in 2012.
Another 83ha at Marsden Point was acquired about 10 years ago by Oliver Scott through various companies & trusts in his North Holdings group, but Westpac NZ Ltd put those companies into receivership in May 2015, with total debt to the bank of $56.8 million.
The power station site is one of 3 sales reported by Colliers agents this week (and, for Marsden B, NAI Harcourts). Another is a Lovegrove Crescent warehouse in Otara, sold 8 months after being passed in at auction, and the third is a showroom on Cavendish Drive, Manukau.
Features: 45ha bare land, former Marsden B power station site
Outcome: sold for $8.5 million
Agents: Tim Lichtenstein & Alan McMahon (Colliers) & Peter Peeters (NAI Harcourts)
39C Cavendish Drive:
Features: 430m² showroom
Outcome: sold for $960,000
Agents: Ash Vincent & Jolyon Thomson
15 Lovegrove Crescent, unit 5:
Features: 2253m² site, 1479m² office & warehouse net lettable area
Rent: $107,500/year net (at auction date)
Outcome: sold for $1.2 million after being passed in at auction last October at $850,000, followed by vendor indicator “bids” of $1 million & $1.07 million
Agents: Jolyon Thomson, Ben Cockram & Jonathan Lynch
Attribution: Agency release, Companies Office, files.