Royal New Zealand Yacht Squadron has found a buyer for its multi-million-dollar Kawau Island properties.
Barfoot & Thompson listing agent Nadja Court announced on Facebook that the land-holding, which includes the historic Lidgard House, had been sold.
The Barrier Times reported this weekend that the buyer was Ngāti Manuhiri.
It quoted an internal memo from David Blakey, Royal New Zealand Yacht Squadron Commodore, confirming the sale and the purchaser.
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The sale price has not been publicly released, but the combined RV of the properties was close to $4 million. OneRoof has asked Court for comment, but had not heard back at the time of publication.
The Barrier Times, quoting Blakey, reported that Ngāti Manuhiri had “warmly invited RNZYS to continue to enjoy use of the beachfront, jetty, pontoon and lawn area twice annually during the summer months for events such as Squadron Weekend and Youth Training Week, for an initial period of 20 years”.
The RNZYS has owned the site at Smelting House Bay since 1989. The park-like grounds host regattas and youth sailing events. Photo / Supplied
The historic Lidgard House beside the jetty has been recently renovated and is let as a holiday house to squadron members. Photo / NZME
“Use of Lidgard House itself will be by mutual agreement on each occasion,” Blakey was reported to have said.
When the properties hit the market in April, Court described the sale as a “big deal”.
“These things very rarely change hands, and it very rarely would become available for somebody from the public,” she said.
Court said the yacht squadron bought the property from BP, the oil company, in 1989. The bay where Lidgard House is situated is called Smelting House Bay, dating back to the 1840s when the island was mined for copper.
In the past, the property has been rented out to squadron members and non-members, starting at $600 a night.
Blakey told OneRoof in April that the squadron bought the land 37 years ago to preserve it for the boating community. The sale has been tough news for some members.
“There is a deep emotional connection to the property, and an understanding of its uniqueness in the Hauraki Gulf. So it has been a lot of work taking members on this journey, why we’re doing this."
The squadron, which faced an over $1.4 million trading loss in 2023 after the America’s Cup, will use the money from the sale for RNZYS Foundation Fund to support yachting, as well as invest in its premises at Westhaven.
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