Row over investment

BY RICHARD EDMONDSON

A decision by the runanga of Ngapuhi to invest money into Kerikeri's John Butler Centre has been criticised by Kaikohe leaders.

The runanga's commercial arm Ngapuhi Asset Holding Company has bought office space in the building and is understood to have leased it to Top Energy.

Western Community Board chairwoman Tracy Dalton says it is disappointing that the runanga overlooked investment opportunities in Kaikohe, the heart of Ngapuhi country.

"There are some significant businesses for sale in the town. The runanga could be investing in these even if they're just the landlords."

The runanga's decision, combined with Top Energy's decision to move 16 managers to Kerikeri, represents a "double whammy" for the town, she says.

"Not only has the runanga invested somewhere else, but the tenants they secure are some of the last professional, corporate jobs in Kaikohe."

Mrs Dalton says the runanga could be a key stakeholder in the town's economy.

She challenges it to be more proactive in identifying investment opportunities that deliver social as well as economic returns.

"They could have done something quite significant. There are not many employment opportunities in this town."

Kaikohe Business Association chairman Win Stephens says there are plenty of investment opportunities in Kaikohe.

The community board and Far North District Council want to attract manufacturers to the town but need financial backers, he says.

"What do we lack in this town? An industrial subdivision."

A former furniture showroom being offered for lease on the corner of Broadway and Mangakahia Rd would make an ideal Maori arts and craft centre, he says.

"This is the heart of your Maoridom."

He says a planned Okaihau-Opua cycle track and walkway would also offer cultural tourism opportunities for Ngapuhi entrepreneurs.

Ngapuhi Asset Holding Company chairman Sir John Goulter says the runanga needs to get commercial returns on money it invests.

"We haven't got a lot of money, therefore we've got to be
very cautious about how we invest it.

"We're not going to get any marks for losing money."

He points out that the runanga hasn't gone outside its territory by investing in the John Butler Centre.

"We would not invest outside our region or broader takiwa and Kerikeri is well within that," Sir Goulter says.

He rejects the accusation that the runanga is not committed to Kaikohe.

A planned upgrade of the runanga's Kaikohe offices - Northern News understands this will cost more than $1 million - is proof of its long-term commitment to the town, he says.

"We have just bought a property adjoining the runanga headquarters and we are looking to significantly upgrade the headquarters.

"That will create a lot of work for the building industry in the town."

The runanga is always keen to hear from Kaikohe individuals or groups with viable investment propositions, he says.

"We will always listen, but they have to be commercial prospects," Sir Goulter says.

- © Fairfax NZ News