Investors sought for planned superyacht refit site

Talks start soon with potential investors in superyacht refit opportunities in Wynyard Quarter - formerly known as the Tank Farm and now being redeveloped in a 25-year project.

Plans for additional support infrastructure had the capacity to earn an extra $200 million a year and create up to 1500 jobs, Sea+City Projects, which is managing the redevelopment for Auckland Regional Holdings, said yesterday.

Latest concept plans were being discussed with the marine industry, and site work was expected to start this year.

Sea+City chief executive John Dalzell said the marine industry was competing with locations around the world to capture its share of the 800 or so refits being undertaken at any particular time out of the 7000 superyachts worldwide.

While a yacht refit may be worth up to $8 million, associated spending by the owner's family visiting New Zealand and the vessel's crew could boost that figure considerably, Dalzell said.

"There are concerns about our capacity to handle future demand, without the Wynyard Quarter redevelopment, which is currently being resolved.

"Australia is making major investments in refit facilities, and the industry here needs to be able to assure overseas superyacht owners that we will have the infrastructure in Auckland to undertake refits."

It was hoped capacity would be increased by the end of next year, with capacity increases each year for several years after that.

Sea+City also said yesterday that preliminary designs for the first public areas in Wynyard Quarter, planned to be ready in time for the Rugby World Cup 2011, could now be seen at www.seacity.co.nz.

The redevelopment of Wynyard Quarter is planned to include parks and plazas, apartments, shops and offices, alongside traditional marine and fishing industries.

- NZPA