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Quayside Holdings

Website Quayside Holdings

Description Quayside Holdings Limited

Quayside Holdings was established by the Bay of Plenty Regional Council in July 1991 with the objective of managing the Council's shareholding in Port of Tauranga in a commercial and efficient manner, while maximising the return to ratepayers of the Bay of Plenty region. Quayside Holdings is a "council-controlled organisation" for the purposes of the Local Government Act 2002. Quayside Holdings is 100% owned by the Council and has a diversified investment base, which it manages through its wholly owned (except for the 100 $1 non-voting C units held by the Council in the Quayside Unit Trust) subsidiaries – Quayside Securities, the Quayside Unit Trust and Quayside Properties. Quayside Holdings also separately manages a portfolio of investment assets, which predominantly consist of Australasian equities. The gross value of this portfolio as at 30 June 2011 was $20.0 million.
Quayside Securities and the Quayside Unit Trust

Quayside Securities was established in 1991 and has the sole purpose to act as a trustee for the Quayside Unit Trust, owning as trustee approximately 55% (73 687 536 shares) of the voting shares in Port of Tauranga. As part of this role, Quayside Securities manages a portfolio of other investment assets, comprising a balance of Australasian and international equities. This portfolio arose from a return of capital by Port of Tauranga in February 2002. The gross value of this portfolio was $39.6 million as at 30 June 2011.

The capital of the Quayside Unit Trust comprised:
  • 7 525 000 voting $1.00 A units issued to Quayside Holdings Limited.
  • 100 $1.00 non-voting C units issued to the Council.

Quayside Properties

Quayside Properties was incorporated in 2003 in order to diversify the investment base of the group into other Bay of Plenty enterprises, including property. Since 2003, Quayside Properties has made significant investments in directly owned property, mainly in the Rangiuru area in the Bay of Plenty. The gross value of land and associated investments as at 30 June 2011 was $13.3 million.

Quayside Group

The key objectives and targets of the Quayside Group, comprising Quayside Holdings, Quayside Securities, Quayside Unit Trust and Quayside Properties, are:

  • To obtain a long-run commercial rate of return from the group's investments, including the shareholding in Port of Tauranga and other investments, while protecting the shareholders' long-term interests.
  • To maintain a majority shareholding in Port of Tauranga.
  • To provide clear, timely and material reports and analysis to the shareholders.

The Statement of Intent is reviewed annually and covers a 3 year period.

The Quayside Group total asset value stood at $765 million at 30 June 2011, compared to $514 million on 30 June 2010.