A multi-million dollar Bay of Islands property owned by interests connected to New Zealand Yachts has gone on the market.
The 54.51 hectare Paroa Bay property is owned by Dragon Hill Farms Ltd, which is registered at the offices of Auckland chartered accountants Hayes Knight.
Dragon Hill Farms director Gordon Ralph Stewart
is also a director in three of the companies linked with the NZ Yachts operation -- parent company NZ Yachts Ltd, its marketing arm NZ Yachts International Ltd and site developer and builder NZ Development Corporation Ltd.
The sale comes at the same time as that of a 12ha Whangarei compound owned by Northern Land Holdings.
NZ Yachts is a tenant in the compound, and is chaired by Allen Jones, who also chairs Northern Land Holdings.
The Paroa Bay property is being marketed by Colliers International of Auckland. The company is also managing the sale of the NZ Yachts compound and advertised both properties together in the June 14 edition of the National Business Review.
The company describes Paroa Bay as "one of the most prized coves in the Bay of Islands with a beautiful outlook to the island-studded ocean".
The property has direct beach frontage, and is roaded and serviced with a north-facing aspect. It is on the market for US$12.5 million.
Following the advertising of the land sales last week, Mr Jones said the company's focus had not changed.
NZ Yachts was progressing well with its first 33m Wavepiercer "superyacht" and had employed 100 on the project. Its directors were committed to starting a second Wavepiercer 33 hull this September.
"NZ Yachts is a brand-new company breaking ground in a very tough global market," he said.
NZ Yachts had shareholders who had "the capacity and the willingness to invest the many millions it takes to become a serious player in the global superyacht industry" and was fully committed to keeping and developing its superyachts production facilities in Whangarei, Mr Jones said.
- NORTHERN ADVOCATE (WHANGAREI)
