This property at 38-44 Dalgety Drive in Wiri sold in late May this year for $120 million. Photo / Colliers
This property at 38-44 Dalgety Drive in Wiri sold in late May this year for $120 million. Photo / Colliers
Opinion by Anne Gibson
Anne Gibson, Property Editor for New Zealand's Herald, has been writing about real estate since 1985 and is a skilled and knowledgeable journalist with deep insights into property as well as other businesses.
A huge sale in Wiri, Ryman on its sinking Remuera buildings and Michael Barnett comes out against a proposal to fast-track a Bay of Islands marina: all in today’s Property Insider.
$120m Wiri sale
A Wiri industrial property has been unconditionally sold for $120 million, making that deal one of2025’s largest.
Greg Goldfinch, Colliers New Zealand’s industrial sales and leasing national director, announced the sale of 38-44 Dalgety Drive to ESR Australia and New Zealand, a property fund.
Goldfinch said redevelopment of the site was being planned in two stages over the next two to three years.
It’s not the only big industrial sector deal to get over the line of late.
Last month, Goodman Property Trust revealed the sale of 28% of its East Tāmaki Highbrook estate to Goodman Group and Mercer for $580m. That was announced on May 29.
Highbrook, the giant business park in Auckland. Photo / Jason Dorday
The Shackleton apartments, the village centre, the rest home and Aoraki Hospital were lifted in a job undertaken by Mainmark.
“The group has undertaken re-levelling works of the main building and one of the apartment buildings,” consolidated financial statements to March 31, 2025 said.
That had cost approximately $8m.
The Edmund Hillary Retirement Village, part of the Ryman portfolio.
Ryman is monitoring ongoing settlement at its village and re-levelling works are likely to also be required at various other buildings in the future, it said.
Some people say they are happy at the village, while others were concerned the main building had been shut for so long and have complained.
Ryman is also assessing other villages for seismic risks, citing those particularly near the Hikurangi fault line.
None of the villages are “earthquake-prone” and independent experts confirmed there were no life-threatening safety concerns nor any need to vacate buildings, the company said.
Naomi James, chief executive of Ryman Healthcare.
However, known seismic issues could cost $30m to $35m to fix.
On a separate topic, Ryman buyers are being charged in a different way to how they previously were.
CEO Naomi James said Ryman no longer offered residents here and in Australia a 20% deferred management fee. This is the portion the business keeps when a resident leaves or dies.
Instead, the fee is now 25% or 30%.
Earlier this year: no entry to the main reception area of Ryman Healthcare's Edmund Hillary Village in Remuera.
But James clarified this was not linked to weekly payments.
Whether people paid 25% or 30% depended on how much they paid for their licence to occupy, she said.
Out of all the retirement village operators, Ryman had offered the best deal financially for many years.
But it has undergone a number of changes, including raising $1.9b capital.
Marina fast-tracking opposition
He was the Auckland Business Chamber CEO for more than 30 years and recognised as the voice of business in the city, but now he’s opposing a Bay of Islands marina proposal.
Plans for a new Bay of Islands marina by Azuma and Hoppers. Fast-tracking is sought for the plans. Photo / application document
Michael Barnett is against the Waipiro Bay marina, saying he has a connection with the area because he owned property in the Bay of Islands in the mid-eighties, initially in Parekura Bay and then at Kororāreka Russell.
Barnett particularly objects to the possibility of the marina being fast-tracked.
Speaking on behalf of the Bay of Islands Preservation Society, he said the Fast-Track Approvals Act was intended to streamline infrastructure, housing and development projects with significant regional and national benefits.
Bay of Islands hapū and community members opposed to a 250-berth marina near Kororāreka Russell going through the fast-track process make their feelings known outside a Far North District Council meeting.
“It is hard to see that this project satisfies any of these criteria,” Barnett said.
Companies owned by multimillionaire businessmen Craig Heatley and Leigh Hopper have proposed the scheme.
Heatley’s Azuma Property and Hopper’s Hopper Developments want to build the 200 to 250-berth marina. It is opposed by Ngāti Kuta, Patukeha and Far North Mayor Moko Tepania.
Ministry for the Environment fast-tracking has been sought, citing several points in favour including boosting infrastructure and employment.
An Azuma director and shareholder, Kallam Brown, said fast-tracking could take years off the process.
Michael Barnett is against fast-tracking for the new marina plans.
Barnett said half of prospective berth owners were likely to live elsewhere and he cited extensive capacity existing in nearby marinas.
On May 5, Auckland and Northland had 246 berths available, Barnett said.
He questioned how much of the facility’s construction would be completed by regional firms rather than by generally larger and more experienced Auckland-based firms.
The marina’s proposed location didn’t fit with regional strategies, which seek to concentrate most future growth in and around the more accessible and established locations of Ōpua and Kerikeri, Barnett said.
In its defence, the application said the marina is projected to boost the local economy.
“The Waipiro Marina has been assessed to have a total economic impact of $177.9m to $218.8m in value-added GDP and support approximately 137 to 148 fulltime-equivalent jobs over a 30 year period,” the application for fast-tracking said.
Anne Gibson has been the Herald‘s property editor for 25 years, written books and covered property extensively here and overseas.
