A unique regional fund backs growth, resilience and prosperity.

Ratepayers in the Bay of Plenty enjoy a unique advantage unavailable to residents of other regions: financial security thanks to Quayside Holdings.

For more than 30 years, the regional council-owned company has grown a responsible and diversified fund, generating long-term returns that support the growth and prosperity of the Bay of Plenty.

CEO Lyndon Settle demonstrates considerable pride and enthusiasm for transformative projects rolling out within the Bay of Plenty for the benefit of towns and people across one of New Zealand’s most picturesque regions.

“We are pretty bullish about the present – and the future,” says Settle.

Quayside is the steward of a fund originally established in 1991 with the acquisition of a 55% share in the Port of Tauranga from the Bay of Plenty Regional Council for $53 million. It also manages a diversified investment portfolio outside of the Port shareholding, which has grown to nearly $500m in assets since inception.

The company’s principles then are the same now as they were at its founding, says Settle: “Our purpose is strongly tied to the community we serve with the crucial focus on creating intergenerational wealth for the Bay of Plenty community, while finding a balance between sustainable and responsible growth and paying dividends to Council.”

The formula has worked, with Quayside growing a portfolio now worth more than $3 billion. The Port of Tauranga, Settle notes, “is still a key strategic asset for the region and for the country”.

Retained capital has allowed Quayside to grow a portfolio across various asset classes. Some of the more locally known and visual assets are in property, such as Panorama Towers: a 13-storey mixed-use development that will bring a state-of-the-art surgical medical facility and parking capacity to the Tauranga CBD.

It is the anchor tenant that has him most energised. With a shortage of medical facilities in Tauranga and more broadly across the region, Asclepius Surgical is establishing six operating theatres, two procedure suites, and adding 60 beds serving both public and private patients. “While we’re anticipating commercially strong returns, there’s a real social benefit coming to the city and region,” Settle enthuses. “And the team gets good feelings from that. It’s a project that hits key components of our purpose, positive social and commercial outcomes.”

Another well-known property investment is Tauranga Crossing, a major shopping destination in which Quayside holds a 36% stake. Settle says the Farmers store within the newly opened Stage 3 development rivals the class and prestige of department stores of an era gone by.

While Tauranga Crossing is seen as a typical investment, Rangiuru Business Park, just five minutes down the road from the new Pāpāmoa East interchange, offers something different. Settle’s eyes light up when asked about this prominent development alongside the State Highway 2 expressway.

“There’s a significant shortage of industrial land and facilities; recognised 20 years ago when the plan change was made,” he says. “Now, as the first stage of land is available for purchase, we’re expecting this to become the next growth node.”

The Park is ideally positioned between towns including Rotorua, Whakatāne, Tauranga and its port, and Te Puke. Already, Settle says the development has ‘stepped in’ at a time when the economy has tightened, with site work carrying a small army of contractors.

“We’ve had an average of 200 workers on site every day to build the first stage, and many have said without this project, they’d have had a hard time keeping afloat,” he says.

Longer term, of course, it’s about commercial and industrial tenants. But Settle says the same care that went into designing and delivering the business park goes into the partnership with local mana whenua (Tapuika) and the community.

“We take a holistic view of what regional benefit looks like: socially, economically and environmentally,” says Settle.

When Quayside generates commercial returns, the Bay of Plenty community benefits indirectly through mechanisms such as rates relief. But Settle says when the organisation leverages its influence and engineering requirements, it can unlock far wider ecological, cultural and social outcomes – like those already achieved at the 50ha stormwater pond and wetland. To him, that is what real regional leadership and stewardship look like.

At the Rangiuru Business Park, Settle says, you can see this kaupapa being manifested in many ways, from the biodiversity gains through to the respectful partnership held with mana whenua.

“In terms of tenants and purchasers, yes, we’re selective,” he says, adding they look for businesses and activities that fit the values and ethos of a quality industrial business park.

With his personal energy and enthusiasm for Quayside’s work, strategy and accomplishments clear, Settle looks to a bright future.

“We’re blessed with a strong board and a clear purpose, and we continue to deliver strong commercial and social benefits which are good for everyone,” he says.

“This year we delivered a $47 million dividend to Council, which is a real benefit for everyone. And you can see it in your city or town today.”

More info: quaysideholdings.co.nz