KEY POINTS:
The recession has put the brakes on Department of Conservation plans to buy the Ngunguru Sandspit to save it from development.
Parties with an interest in the acquisition - developer Landco, DoC and the Ngunguru Sandspit Protection Society - are working towards a common goal of protecting the
sandspit, Northland conservator Chris Jenkins said.
"But it is a difficult time to find the money. When you are talking millions of dollars in the middle of a recession, it's tough," he said.
But just how much money was needed no one was prepared to say and no firm date had yet been set to resume stalled negotiations for DoC to either buy the sandspit - where Landco plans to subdivide 36ha into 350 sections and reserve another 85ha - or exchange other conservation land for it.
A $37.65 million valuation of the property was on the table earlier, but Mr Jenkins said that covered all property Landco owned in the area and DoC was seeking only a coastal portion.
Landco's managing director, Evan Davies, confirmed the amount required to reach a sale agreement with DoC would "certainly be lower".
Mr Davies took the helm of Landco in July last year after Todd family business interests, which owned a 49.5 per cent stake in Landco, bought the other 50.5 per cent share from Greg Olliver.
Mr Davies declined to comment on reports the Todd purchase bailed the company out of a risk of receivership, saying it was "before my time".
He acknowledged that coastal land development could be difficult, but he said the company would consider swapping the sandspit for a DoC coastal property because the firm was confident coastal opportunities would strengthen in the future.
Ngunguru Sandspit Protection Society chairwoman Gloria Bruni praised the way Landco was treating the sandspit and adjoining Whakairiora mountain.
Company erection of signs to keep out dogs and protect birds, employment of a trapper to monitor predators and consultation with a local Landcare group were laudable, she said.
The society had written to 18 Government ministers and associate ministers with sandspit links, encouraging funding support for the DoC purchase.
Ms Bruni said she understood Landco had taken a loss on its sandspit investment. She had approached Mr Davies and was trying to reach the Todd family with an invitation for them to take a greater loss by contributing the sandspit to New Zealand.
- NORTHERN ADVOCATE
