Graham Hart's companies spent $189m in south Auckland. Illustration / Rod Emmerson
Graham Hart's companies spent $189m in south Auckland. Illustration / Rod Emmerson
Billionaire Graeme Hart's companies have won consents to develop two of five Auckland properties bought for $189 million in the last few months.
Documents lodged with Auckland Council show plans for extensive work on the industrial land that two of his Fernbrook companies bought during the winter in the fast-expandingWiri and Māngere.
At one site beside the Villa Maria Estate near the airport, Fernbrook will build two vast new warehouses to cater for the logistical/storage sector. Those buildings will have a total area of 1.3ha or 13,720sq m.
NZX listed Goodman Property Trust has just bought Villa Maria's land except the vineyard buildings near the road. Goodman is paying $75m for the site which has caused some surprise, thought to be low, as well as disappointment at the loss of the concert venue.
Hart (left) on Odyssey during the America's Cup Race three this year. Photo / Getty Images
Last month, the Herald reported how companies controlled by New Zealand's richest man bought five new holdings, capitalising on the rising fortunes of a sector that saw Goodman add $500m onto its portfolio value.
Hart's superyacht Odyssey was last year in Whangārei Harbour when it had been undergoing a refit, and earlier this year was out on the America's Cup course in the Waitemata.
But in November last year, the Herald reported Hart had sold Odyssey.
Hart owns private equity firm Rank Group, and global packaging, food and beverage giant Reynolds Group.
Hart's companies are seizing opportunities for the sites. Photo / Martin Sykes
Hart at the time of publicity about his property purchases last month acknowledged them. He said via a third party that information from agents and property records would give a "fulsome picture" of his companies' industrial property interests.
The five purchases were:
• A 28ha block of land at 31 Prices Rd off Puhinui Rd in the Manukau/Wiri area for $94m;
• 90 Pavilion Drive, Māngere, for $21m, land on the edge of the Villa Maria Estate, itself about to become a $500m industrial office park;
• A block of 3.8ha of undeveloped land at the end of a dead-end, 9 Jerry Green St, off Roscommon Rd, East Tamaki, said to have settled for around $30m ;
• 68 Cryers Rd, East Tamaki, developed land in the hub of a commercially highly active zone for around $26m;
• 11 Greenmount Drive, East Tamaki, for $18.2m in a deal brokered by agents, including from JLL.
Council files show extensive activity on two of those five sites. Here is what's happening:
• 90 Pavilion Drive is where big new warehouses will rise.
Plans are most advanced for this site in the latest round of approvals.
Hart's Fernbrook WW applied to carry out major development of large new buildings on this site and won consent.
Fernbrook WW can now undertake earthworks and build two new warehouses with offices, loading access, car parking, do earthworks and install landscaping and signage.
Plans were submitted from at T Plus architects and Maven Associates were listed as working on the infrastructure, earthworks, sediment control and retention pond details.
90 Pavilion Drive, Māngere, which Hart's Fernbrook plans to develop. Photo / Supplied
This site is on the edge of the Villa Maria Estate, itself about to become a $500m industrial office park.
Hart's company recently paid $21m for a 2.5ha greenfields development site, land sold as part of the Villa Maria Estate. It is zoned light industry and part of the Airpark Two subdivision, giving it two additional right of ways.
South Auckland property is not new to the Hart businesses. Fernbrook companies were already active there. For example, Fernbrook Property (no. 2) bought 47 Lady Ruby Drive, East Tamaki, in 2016 from interests associated with Emerald and Chateau Creme Delight Ice Cream company.
The plans lodged with the council show the buildings facing Pavilion Drive, with vehicle entry via a number of roller doors. One warehouse is 5200sq m while the other is 8520sq m. Office units are set to the edge of the buildings with wide vehicle circulation areas around the outside.
31 Prices Rd, Wiri, a site formerly known as 55 Prices Rd:
Future subdivision and development is planned on this land. The council says this would ensure the provision of industrial land for efficient use within Auckland.
Hart's Fernbrook Property applied to do earthworks involving stripping 64,700sq m of topsoil and spreading 27,610sq m of topsoil.
Earth is to be cut across the site which is 27.5ha. Those earthworks are civil enabling activities that will then allow for a subsequent application to develop the land for in-demand warehousing and logistical developments.
Consent was granted on September 17 for earthworks, stream works, diversion of water and discharge of water.
Planning Focus said the site was in the light industry zone of the Puhinui Precinct. It has frontages of Prices Rd and is now used for grazing. Surrounding land is predominantly used for farming and horticulture. The precinct's purpose is to enable a transition from rural to urban development, predominantly light industrial and airport-related activities.
The Wiri to Auckland international airport jet fuel pipeline traverses beneath the site and before any works start, consents must be obtained from Refining NZ, First Gas and Wiri Oil Services, Planning Focus said.
