Proposed superyacht service site grabbing interest

City view with the Wynyard Quarter in the foreground. The shaded area is where the proposed marine precinct would be built. Photo / Supplied

Recently announced plans to create a globally competitive marine precinct, that could service superyachts at Wynyard Quarter in Auckland Harbour, have been well received, with several parties confirming their interest and working on development ideas weeks ahead of this month's closing date for expressions of interest.

Alan McMahon, a director of Colliers International, which is marketing the 2.8ha land and water site at the corner of Jellicoe St and Beaumont St in Wynyard Quarter, said initial discussions with local businesses and particularly with the Marine Industry Association and its members, received an enthusiastic response.

"The local marine industry has been a long-time supporter of the proposed precinct, which is a necessary step towards a goal of capturing a share of the estimated $2 billion Auckland recreational marine market by 2020.

"We have been pleasantly surprised by the level of interest, despite the likely costs involved to construct. Our discussions with local industry players have underscored the value of the berthage that could be built in the water space.

"Conceptual plans depict a development area of over 700 sq m of berth space which would be enough to tie up several superyachts and medium-sized vessels at one time. Although we can't comment on who the interested parties are at this time, we can confirm that the majority of the inquiry is locally based," he said."

McMahon believes the cost might exceed $100 million if the site was fully developed in accordance with concept plans, including a 52m part-residential building, and if all the necessary plant was purchased including a 600-tonne boat lift.

"Recent reports have said that up to $150 million or so of refit and maintenance work is lost each year because of a lack of facilities in Auckland, so the annual profits from some of that work being carried out on the site would provide a substantial return."

McMahon says expressions of interest are due to close on May 17. "We are seeking interest in the whole site - land and water.

The value of the whole is probably greater than the sum of the parts, because the water needs the land and the land needs the water."

Colliers is marketing the site for Sea City Projects Limited, the management company established by Auckland Regional Holdings.

In addition to boat lifting capacity and new berthage, the facilities are expected to include hard stand areas where vessels can be worked on, facilities for stepping masts, and buildings to house multifunctional work spaces.

Under the plan, new jetties will be built near the western end of Jellicoe Street. They will not form part of the site for sale but will be adjacent to it.

The Wynyard Quarter had a major fillip recently when the ASB Bank announced it would move into a new 18,000sq m building to be built by 2013.