We’re forming a plan for growth and sustainable returns
Gisborne Holdings Ltd
(GHL)
We’re a Council Controlled Trading Organisation owned by Gisborne District Council (GDC).
We own $139 million in assets including Tauwhareparae Farms, Waikanae Beach Top 10 Holiday Park, Wash’n Go Gisborne Auto Wash, and other properties.
We generate dividends for Council to help offset rates for locals, but this year we paid only a partial distribution.
We’re thinking differently about how we can make best use of our unique and commercial position, skills, and relationships to better support Council and make Tairāwhiti a better place.
We look forward to engaging with the community
Our
Responsibilities
We’re building a foundation to support regional recovery and resilience
In 2022 we signalled to Council that we do not currently have the correct asset portfolio to meet its requirements. Then, like the rest of the region, the weather events of 2023 had a terrible impact on us.
We’ve shifted the conversation and the way forward is clearer. We must consider:
diversification
restructuring our asset base
focusing on regional resilience and prosperity
collaborating with new partners
proving ourselves to be a trusted investment partner
providing a dividend to Council.
By potentially releasing capital in some of our less strategic assets, we believe we’ll be able to play a significant role in the region’s recovery. The people of Tairāwhiti will be the ones to benefit.
Our
Assets
We’re reviewing assets with a
best-for-region focus
We’re approaching any discussions around capital release options with an open mind and no decisions will be made until after we’ve heard from the community. Below are our current assets. We’ve shifted the conversation and the way forward is clearer.
Tauwhareparae Farms
63% of GHL’s total asset
Tauwhareparae Farms is 11,250ha, of which 4,200ha effective. It winters 44,000 stock units. Eighteen percent of the farm’s value is related to forestry. Around 1,300ha of highly erodible land was in the process of retirement before the entire operation was severely impacted by the wet weather and cyclones in the first six months of 2023.
Wash’n Go Gisborne Auto Wash
1% of GHL’s total asset
Our cashless car wash on Carnavon St is open 6am to 11pm daily and offers a variety of vehicle cleaning options. We built it in 2021. Around 2,900 individual customers use Wash’n Go Gisborne Auto Wash.
Waikanae Beach Top 10 Holiday Park
5% of GHL’s total asset
The holiday park employs up to 27 staff and can hold over 800 people in a range of accommodation. This year’s weather events affected the numbers of holidaymakers coming to the region, but occupancy figures remained positive. Families displaced after Cyclone Gabrielle stayed at the park, and later, tradespeople filled vacant rooms.
Property
31% of GHL’s total asset
We own a portfolio of properties under our asset arm Property Holdings. It includes Awarua (Council’s administration building on Fitzherbert St), and nine other properties including a house and office in Ruatoria. Property Holdings earned $2.3 million in rent.
Looking
Forward
Mapping the future of Tairāwhiti begins today
After Cyclone Gabrielle we took a review of our strategic position and investment policy. We believe the region will need a significant level of rebuild investment and we want to play our part.
We’ve been developing our five-year strategic plan which has the community at its centre. Any new businesses must pay for themselves, and growth must not come at the expense of dividends.
We want to be an active leader in regional investments, a good citizen of Tairāwhiti, and a good employer.