Auckland waterfront land off the agenda

Monday 8 November 2004

Shareholders hoping for cash pay-outs from land sales by Ports of Auckland should not hold their breath.

By The Landlord

The port, which sold its Westhaven and Hobson West marinas for $54 million in May, is firm it is not planning further sales.

"The company has no present intention to sell any further waterfront property," said chairman Neville Darrow at the company's annual meeting.

The strategy is supported by the company's new 80 per cent shareholder, Auckland Regional Holdings.

"We're not a seller of waterfront assets and are not focused on extracting special dividends," said ARH chairwoman Judith Bassett.

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