Auckland property developer Simon Herbert is never far from the headlines, whether it be selling the country’s most expensive home in 2018 or pushing ahead with his latest marina development plans.
As the owner/operator of the Bayswater, Hobsonville and Pine Harbour marinas, Herbert and wife Paula control more than 18ha of prime waterfront real estate as well as 1590 marina berths that can be hired for anything up to $149 a day.
The three marinas and a related dredging and fuel business are collectively managed by Empire Capital, which proclaims a vision to create world class facilities, enabling local communities and enriching Auckland’s waterfront experience.
However, some locals don’t share the Herbert vision for Bayswater where he has fought an almost decade-long battle to develop the 3.34ha of reclaimed land that he bought from the Crown for a modest $3.7 million. Opened by the late Martin Jones in 1998, the marina has been described by Herbert as ‘largely a car park in the harbour’ and hardly befitting of the world’s most livable city.
Herbert believes there is no reason Bayswater cannot have the same sense of vibrancy as St Tropez in the south of France. However, his plan for a $500m 300-apartment project has already provoked some in the surrounding community to call for greater access to the waterfront and more green parkland and recreational areas.
Empire is about to apply for resource consent for the development which also includes over 1000m2 of retail and hospitality including significantly improved public spaces – “a complete urban renewal of the underutilised property,” as Herbert puts it.
Similar opposition could be looming at the Pine Harbour Marina, which Herbert bought in 2015 from the NBR Rich List Drinkrow family for $22.5m and is now valued at $32.35m. Earmarked for significant residential development, Herbert has unveiled plans for ‘L 175’ which – recently consented – will consist of four blocks of apartments with interiors created by Herbert’s designer-wife Paula that marketers say offer “a lifestyle second to none.”
Last but not least, there is the Hobsonville Marina in West Auckland. Having bought it for $18.5m in 2013, Herbert is intent on developing it into a world-class marine village with waterfront residential apartments and terraced housing.
One of Herbert’s less heralded but no less significant property investments is his consented subdivision of 74ha of rural land north of Auckland. With a rateable value of $60m, the Grand View Estate will be carved in 575 lots.
Having graduated from Auckland University with a degree in law and commerce, Herbert initially worked for the commercial property teams at both Russell McVeagh and Rudd Watts and Stone before starting to invest in property on his own account.
One of his early acquisitions was the landmark 246 building on Auckland’s Queen St but one of his less celebrated investments was the purchase of the derelict Sheraton Hotel in Rarotonga, which was bought for development in 2014, but sold two years later amid local claims that the property was cursed.
A much more lucrative investment has been in the stately Remuera mansion previously owned by businessman David Richwhite. Set in park-like grounds, the 834sq m home was renovated by Paula, an interior designer and former Miss New Zealand. Initially placed on the market for about $20m in 2015, the property was sold to Chinese interests for $25.5m. The Herberts promptly bought a replacement mansion in Herne Bay for just under $30m.
In addition, the A-List couple recently bought a 20ha property overlooking Paroa Bay near Russell valued at $5.4m.