By WAYNE THOMPSON
The Royal New Zealand Yacht Squadron is putting up a $1 million nest-egg to encourage other clubs to invest in a bid for the Westhaven Marina.
Ports of Auckland wants to quit its $50 million marina business on the Waitemata Harbour, including the Hobson West Marina for
super-yachts. Tenders will open late next month and close by late March.
Squadron commodore Bill Endean said yesterday a deed had been drafted for the Westhaven Charitable Trust which he believed would represent the interests of all groups and continued public access.
The trust would buy Westhaven Marina and associated property and rights to operate them for charitable purposes.
Mr Endean and prominent Auckland sailor Penny Whiting were proposed as two of the squadron's three representatives on a five-member board of trustees.
The other three Westhaven clubs - Richmond Yacht Club, Ponsonby Cruising Club and Victoria Cruising Club - would have one trustee, as would the Mariner Berth Users Association.
Mr Endean said the squadron had most trustees because it wanted to control the destiny of its $1 million investment.
He said other clubs were not being being asked for money but instead could approach their members to invest in interest-bearing securities which would be offered.
Investment from the 3000-strong squadron membership will be sought.
Westhaven is believed to be the largest managed marina in the Southern Hemisphere with 1800 vessels.
Mr Endean said it was likely several private interests would compete for the marina.
The focus of the squadron's bid was on securing Westhaven to protect boating interests but it would also ensure public access to the area.
Mr Endean said the Richmond club had given its support to the bid and he was meeting the Marina User Association tonight to seek the support of its 1000 members.
