A joint venture between Southern Discoveries, Real Journeys and Remarkables Jet has bought Queenstown's St Omer and O’Regans Wharves from Ngai Tahu Property at auction.
Diversified tourism operator, Southern Discoveries, owned by Skeggs Group, is the main leaseholder.
Southern Discoveries managing director David Skeggs says the deal secures the future for the company’s forthcoming new operation to Mt Nicholas Station.
Remarkables Jet director John Porter says the partners’ plans included developing a “stunning waterfront resort village” serviced by a new regular jet ferry service between Queenstown and Remarkables Park at the western end of Lake Wakatipu.
Remarkables Park owns Remarkables Jet.
Tony McQuilkin, a director of Real Journeys, says the company is pleased to have secured substantial additional wharfage to allow future vessel operations on the lake.
The acquisition includes:
- O’Regan’s Wharf, built in 2007 for $1.5 million with commercial leases in place to tourism operators.
- St Omer Wharf, which includes a building providing 71sq m of lettable area, plus parking and commercial boat fuel facilities leased to Southern Discoveries.
- A Queenstown Bay swing mooring on the Gardens side of Queenstown Bay.
- Kelvin Heights Jetty, a foreshore jetty in The Narrows with foreshore access from Kelvin Heights below the golf course.
The wharves were marketed by Rory O’Donnell and Mark Simpson of Colliers in Queenstown.
They are subject to a long-term lake bed licence and ground lease agreements, with rights of renewal.
Tony Sewell, chief executive of Ngai Tahu Property, says in a prepared statement that the company decided to sell to renew focus on “core business and strategic direction”.
When it was built, O’Regan’s Wharf was described as a $1.2 million venture. Queenstown Lakes District Council contributed $285,000 for landscaping.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Cameron Officer talks about the NBR Car of the Year 2015
- John Barnett on Brewer: ‘Boy, has he got a bit to learn’
- Tech commentator Ian Apperley on the dangers of governments cracking down on encryption
- Egg producers federation exec director Michael Brookes on caged hens
- Pumpkin Patch CEO Luke Bunt on his company's turnaround plan
- New Zealand Shareholders Association chairman John Hawkins on A2 Corporation's share purchase plan
- Duncan Bridgeman and Mark Lister discuss the latest news from the New Zealand share market
- “A very ballsy thing to do” – Rodney Hide and Kelvin Davis discuss Serco’s response to Correction’s Mt Eden Prison report
- “The response from shareholders has been overwhelming” — A2 Corporation chief executive Geoff Babidge
- Greg Gent says a board of 13 people is "prehistoric"
- Arvida CEO Bill McDonald on his company's half-year net profit
- Lance Wiggs on the future of food exports