Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Marsden Maritime sells surplus 41.5ha site for $4M


Marsden Maritime sells surplus 41.5ha site for $4M, completing land


By Jonathan Underhill

Oct. 30 (BusinessDesk) - Marsden Maritime Holdings, which owns half of the Marsden Point-based Northport, has sold a net 41.5-hectare block of industrially zoned farmland for $4 million after a deal that allowed it to consolidate its land holdings.

The company said the block was sold to a major New Zealand-based timber importer and processor. The sale follows Marsden Maritime's announcement in April that it had acquired a 55ha block of industrially zoned farmland at Marsden Point that bordered three adjacent company-owned properties. At the time, it said the fragmented nature of its landholdings had been an impediment to planning for long-term developments.

It immediately began marketing a 44ha parcel of land that was furthest from the port and deemed of lowest strategic value. The sale of 41.5ha is after deduction of land needed for a new roadway, it said.

"This will enhance access to our other landholdings, a critical step in unlocking development potential," said chief executive Graham Wallace.

The transactions have left Marsden Maritime with land "sufficient to cater for the long-term development of both Marsden Maritime Holdings and Northport," he said when the original purchase was announced in April.

Its shares fell 0.4 percent to $5.60 and have surged 62 percent this year.

Marsden and Port of Tauranga each own 50 percent of Northport, and Marsden also owns 100 percent of Marsden Cove and Marina. The company itself is about 54 percent owned by Northland Regional Council and 19.9 percent by Ports of Auckland.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on seek.co.nz. Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>