So who has the controlling stake in Kapiti Airport? It may not be who you think.
With so much current community interest on the overall subject, a few days ago in a conversation I was having with Karl on facebook, Karl Webber made a very good point that I don't know who Templeton is.
The other afternoon needing a break, and since I enjoy research (strange, I know), I thought I should find out for myself. Anyway, what I learnt was not what I expected, so I thought I would share this in case anybody else is interested out there in our fantastic community.
For anyone that does not want to read everything below, in summary, it is not majority controlled by the Temptleon Group, nor is NZ PROPCO, these are just holding companies.
LinkedIn informs that the majority control appears to fall under a Brett Gamble as he is the CEO of Tailorpsace, the Managing Director of Alvarium Investments NZ and the only shareholder of BHIVE GOLD LIMITED, all of which combined own 50.10% of the airport, the Templeton group it turns out only owns 49.90% of Kapiti airport.
Alvarium Investments NZ is a large fund that is controlled by Alvarium RE Limited (a huge fund) based in London UK, and Tailorspace; as mentioned Brett Gamble is head of both Alvarium Investments NZ and Tailorspace.
Some will be aware that it becomes more complicated for a non NZ company to directly invest in NZ property if their stake goes above 25%, I noticed that Alvarium RE Limited UK is nicely under that at 23%
Finding ownership or any funding information for the Templeton group is much harder, the Templeton group is owned by Templeton holding limited, who in turn is owned by Templeton controller limited.
Templeton controller limited is a trustee company, that is it acts on behalf of others and does not own the assets of the company itself, this type of setup is sometimes used when the real owners/stakeholders of a company don't want to be publically known. I would say that Templeton doesn't seem to want to make it too easy to find out whom Templeton controller limited is fronting/acting for.
What I did find of interest is that Templeton controller limited is the trustee for another company setup around the same time, "WARKWORTH LAND COMPANY LIMITED", that company is 50% owned by AINZ FUND 0 LIMITED, which is 100% owned by Alvarium Investments (NZ) - who of course is 46% owned by Alvarium [RE] Limited in the UK. That association with Templeton controller and Alvarium creates a nice loop between Templeton and Alvarium, although that does not at all mean that either has a stake in the other.
Anyway, I let you make your own mind up if this is of interest to you or not. For me personally, it is just nice to have a better understanding of the key stakeholders and as such who stands to benefit and profit from any development of Kapiti airport.
All the information here is freely and publically available on the companies own websites, companiesoffice.govt.nz, or made public by the companies/persons detailed on LinkedIn.
I have only done a short bit of research here, and there would be a lot more to learn about these relationships out there, but I should get back to what I should be doing...
Poll: Is it ok to regift something that you have been given?
🎁 Holiday Gift Chat!
Do you ever regift?
What’s your take on asking for a receipt if a gift doesn’t fit?
-
79.1% Yes! It's better to regift what I don't need
-
20.9% No. It's the thought and effort that matters
Driven On The Akatarawa Rd Lately?
If so, its good to know you are still alive and reading this.
We have a function to go to over Christmas up that way and having heard a few hairy stories about the road, I went up there on Thursday to check it out. The road's ok, narrow and winding, but not much worse than a Wellington hill suburb. What was pretty scary was the behavior of other drivers. Three vehicles heading the other way at speed would have crashed into me if I hadn't been pulled off the road. I had pulled in to check the address when a truck came flying past, taking up all of the narrow road at speed. There is no way the driver would have been able to stop had they come around the corner immediately in front of me. The other two drivers came hurtling past as I had turned in to turn around and come back down the hill. They were also driving at speed and taking up most of the road. Coming back down I passed another car coming up and estimate that the safe speed to pass another car was about 30-35 kms.p.h. So, now we're thinking, do we go to the function or not.? Feels a bit like we're taking our life in our hands going up there. Drivers appear to be overconfident, and they are courting serious injury.
Loading…
