Buyer collects third Auckland marina

Pine Harbour Marina will be developed with intensive housing and mixed-use projects. Photo / Bayleys

Marina investor and developer Simon Herbert now has control of three big Auckland holdings after his $22 million Pine Harbour purchase was announced last week.

Herbert, of Empire Capital, said the Pine Harbour Marina at Beachlands complemented his two other projects.

"It's a great addition to our existing holdings at Bayswater Marina [420 berths and 3.4ha of waterfront] and Hobsonville Marina [80 berths and 4.5ha of waterfront]," Herbert said.

Intensive housing and mixed-use projects are planned for the marinas because of the waterfront land's big potential and the links to transport via ferries which travel into the central business district.

Herbert said the Pine Harbour property was put up for sale in late 2013 on behalf of the vendors, the Drinkrow family, who appear on the National Business Review's annual Rich List with an estimated $250 million property, quarrying and transport fortune.

Herbert said the deal had a long settlement period.

The assets include the 570-berth marina, haulout business, 180-boat drystack, marine industrial centre with land and buildings, existing waterfront retail and office buildings and development land. Altogether it is about 9ha of waterfront land which Herbert said created a substantial opportunity.