Far North trust explains how $7m plan to buy Old Packhouse Market will work

A fundraising campaign has started to raise $7m to buy the Old Packhouse Market.

Donations towards a multimillion-dollar community bid to buy the Old Packhouse Market in Kerikeri are trickling in.

The Far North Resilient Communities Charitable Trust announced last Friday it had started fundraising to buy the property from owners Judy and Warrick Hyland, who listed it for sale in May 2024.

The trust fears the market site will be lost to developers.

It has entered into a sale-and-purchase agreement, offering to buy the land and buildings from the Hylands, who would continue to run the market, cafe and butchery businesses for the foreseeable future.

The agreement comes with a one-year settlement, meaning the community has 12 months to raise the cash needed to secure the property in community ownership.

Project lead Di Maxwell said about 100 people attended a community meeting to hear the trust’s plans.

“It was really good, a lot of people were interested.

“Twenty-nine volunteers have stepped up, and donations [of $2500] started flowing in the following day.

“It’s a long way to $7m, but it’s a good start.”

Residents took to social media to express their views.

Some hailed it as a great opportunity to secure the market for generations to come, but many questioned the $7m price, calling it “madness” and “excessive”.

Others questioned why the sale-and-purchase agreement included only the land and buildings, not the businesses.

Some wondered why the project could not be done cheaper by buying a smaller piece of land or holding the market in a public space or carpark.

Maxwell said buying another piece of land would require resource consents, solving roading issues, and building the business from scratch.

“On that property, there’s almost 6ha of land, two houses and a market.

“All the roading has been done, all the initial years of building up the credibility of the business is all done.

“The packhouse would then be sold to developers for more housing, and 155 people would lose their livelihoods.”

Maxwell said the houses on the site were rented, and would continue to be. This would earn trust income to be used for furthering the project.

Di Maxwell (left) hopes the community will get behind the community initiative to buy The Old Packhouse Market from Warrick and Judy Hyland. Photo / Jenny Ling

The $7m would not all go to the Hylands. Some would go towards upgrading the main building.

“... Over $500,000 will be used for refurbishment and upgrading the building, which is essential.

“It’s work that was identified when we got the building report done; for general maintenance, upgrading, and to ensure it lasts for a good long time.”

The money would be raised through “a comprehensive fundraising plan, donations, grants, events, investment funding, and loans”.

“We have to try every aspect.”

Once the buildings and land were secured, the trust would let the buildings to the Hylands for their businesses.

Rental earnings would also cover maintenance, insurance, staffing and compliance, Maxwell said.

“We really appreciate Judy keeping the businesses running until we’re ready to take over.

“Running three businesses fulltime with volunteers, we wouldn’t be able to do it.

“Those businesses will pay market rent back to the landowner [the trust] until such time as we feel ready to take them on.”

Maxwell could not say how much the businesses were expected to cost, who would pay, and whether more fundraising would be required.

“We haven’t got to that stage yet.”

Future initiatives for the site included an “outpost project” connecting Far North communities, a small grocery store, a repair workshop, and a learning centre offering workshops about growing food.

Jenny Ling is a senior journalist at the Northern Advocate. She has a special interest in covering human interest stories, along with finance, roading, and social issues.