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Home / New Zealand

Archer sells NZ property for $2.2m

30 Jun, 2000 03:24 AM2 mins to read

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British politician and author Jeffrey Archer has sold his Whangaparaoa property to the Rodney District Council for $2.27 million.

Lord Archer bought the 24.8ha riverside holding as an investment in 1985 for $775,000.

He bought in the midst of 1980s America's Cup hype over New Zealand's chances of holding the cup races
off the Whangaparaoa Peninsula.

In 1997 Lord Archer won consent from the council to subdivide the land into 21 rural lifestyle sections.

But the council in September last year designated 7ha on the edge of the property for the northern approaches of a bridge over the Weiti River.

Lord Archer's New Zealand property representative, Peter Brown, of Jones Lang Wootton, said the subdivision did not go ahead because of uncertainty over the effects of the pending designation.

Lord Archer gave instructions for an appeal to the Environment Court but Mr Brown said he had withdrawn the action after successful negotiations with the council.

Mr Brown said he had no instructions from Lord Archer about making fresh investments in property here.

The council yesterday confirmed the purchase price.

The Archer property is the only one purchased so far in connection with the Weiti bridge and toll road project, which is a few years away from construction.

However, the council's corporate services manager, Peter Winefield, said the council had bought 34 properties for a total of $5.7 million on the northern side of the river for the proposal to widen Whangaparaoa Rd.

Seven appeals against the road's widening and the Weiti crossing are awaiting a hearing in the Environment Court.

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