Mansons denies Peters' golf course sale claims

Culum Manson said Peters' claims were not accurate. Photo/Doug Sherring

Claims by NZ First's Winston Peters of a big Auckland golf course land sale to Chinese buyers by the country's wealthiest property investors have been strenuously denied.

Culum Manson of Mansons TCLM said Peters' statement yesterday that his family's business had sold the land to Chinese interests was wrong.

"That statement is not accurate," Manson said.

Peters said: "Auckland Golf Course sold land to Mansons, New Zealand's biggest private property developer, who flicked it on to a Chinese investor at twice the market value."

But Manson indicated his family's company still owned the land.

The land is part of the Royal Auckland Golf Club property to be developed. That land near Middlemore Hospital was seen as surplus to requirements, following the club's merger with The Grange.

The site is to become a large housing estate and since its purchase, Mansons has been preparing the land for development, subdividing and creating titles.

Culum Manson said other major investors and developers were keen on the land before Mansons bought it and that his company paid a high price.

"Fletchers and Todd Property wanted to buy the land as well. However, their offers were considerably lower and conditional. Our offer was higher and unconditional.

"The best price was achieved by the club for the land in current raw state. We paid more than required so the club could fund Project Legacy - a new course and club house for future generations," Manson said.

WHERE IS THE LAND?

Manson indicated considerable time, money and expertise had been put into the deal.

"To enable any further sale of the land, there are lots of works to be carried out and considerable time and investment to be made by Mansons to create a new subdivision. This includes large infrastructure upgrades, water, roads etc," Manson said.

Peters said foreigners were increasingly buying New Zealand land.

"The Chinese Government is looking at regulatory change focusing on Capital Gains Tax relating to properties held overseas. As a result of this, Chinese investors are now rushing to buy land in New Zealand," Peters said.

Peters said Mansons had "flicked on" land to a Chinese investor. Photo/Dean Purcell

"Last year 466,000 hectares of land was sold to offshore buyers which was five times more than the previous year.

"The massive sell-off of New Zealand land under National is escalating," Peters said.