Far North Holdings has acquired the Opua Industrial Estate on State Highway 11, just south of the town. Ownership transferred at the end of February. The move gives the company additional flexibility to accommodate local businesses at every stage of their growth and development.
Opua Industrial estate is a logical fit for the company because of its proximity to the Opua Marine Hub and the ability of local businesses to shift easily from one location to the other. The company says the move was a valuable opportunity to broaden its property holdings and to reinvigorate the Carters yard which had been vacant for several months.
Far North Holdings chief executive Andy Nock said the Far North District Council-owned company’s mandate included the support and development of economic activity in the Far North.
“We help develop and grow local businesses for the benefit of both our business and our communities. The wellbeing of this area’s commercial and manufacturing base is a priority for us and this includes making sure that there is a decent range and well-maintained stock of competitively-priced premises for them to operate from.”
Mr Nock said there was no intention to re-develop the Opua Industrial Estate. It was all business as usual and although there were a number of rumours about the acquisition he wanted to assure the people of Opua that they were only that.
“As ever, if people have any questions or concerns I would urge them not to look to social media for answers but to talk to us directly.”
About Far North Holdings Ltd
Far North Holdings Limited (FNHL) is responsible for managing and operating the commercial activities of the Far North District Council. These include Port Opua, Bay of Islands Marina, Kaitaia and Bay of Islands Airports, Paihia Maritime Buildings and Paihia Wharf, Williams Road Car Park and the Kaitaia Education Campus.
FNHL’s mandate includes the support and development of economic activity in the Far North.
Since 2005 all of FNHL’s trading surplus has either been distributed to the Far North District Council or reinvested in property and infrastructure within the Far North District. The Far North District Council estimates that without this financial contribution general rates would have been approximately four percent a year higher, each year, over this period.