KEY POINTS:
Northland Port is selling its 50 per cent interest in marina developer Marsden Cove for a gain of more than $7 million.
The port company will sell its interest to joint venture partner, Hopper Developments, for $10.6 million.
Port company directors decided to sell with the initial development phase completed, and because of the time until stage two was completed, said chairman Mike Daniel.
Shares were down 1c at $3.25.
