United for positive change in Tairāwhiti.
Welcome to Gisborne Holdings Ltd (GHL), the commercial arm of Gisborne District Council (GDC).
As a Council Controlled Trading Organisation, our mission is to generate commercial returns that benefit the entire community.
We manage $123 million in assets, including Tauwhareparae Farms & Livestock, Waikanae Beach Top 10 Holiday Park, and commercial properties. And we oversee GDC’s 120 community houses, helping provide homes for those in need.
Like many others, the past few years have posed challenges for GHL, including the pandemic, market fluctuations, and severe weather events. Despite this, we remain deeply committed to Tairāwhiti’s future.
Our strategy, developed with GDC, will help drive economic recovery and growth for the region.
Right now, we’re working to ensure that our assets serve the community’s evolving needs. We look forward to engaging with you in the coming months.
United, we can build a stronger future for Tairāwhiti.
Our Responsibilities
Sustainable returns with a best-for-region approach.
Our mission agreed with Gisborne District Council (GDC) is clear.
We will leverage our unique commercial position, skills, and partnership with GDC, and make Tairāwhiti a better place for all.
We’re committed to:
generating commercial returns of 6% or more annually
managing our assets effectively
upholding responsibilities under Te Tiriti o Waitangi, and
fulfilling our social, environmental, and ethical obligations.
This year, in collaboration with our shareholder, our key priorities are careful cash management and implementing the strategy for regional growth and sustainability. We’re also supporting Council with its 2024-2027 Three Year Plan and its regional spatial plan called Tairāwhiti 2050.
In 2024 we also began aligning our operations with Council’s climate change roadmap, starting by measuring our greenhouse gas emissions. This measurement establishes a baseline for setting key performance indicators to reduce emissions by 2030 and 2050.
Our Assets
We want to be profitable and helpful to the community.
Our Assets
Tauwhareparae Farms & Livestock
Our commercially viable operation on the East Coast.
Performance
As of 30 June 2024, Tauwhareparae Farms & Livestock are valued at $69 million, a loss of $17.4 million since 2023. This decrease highlights the financial impact of recent events and led to a net loss before tax of $6.1 million.
Over the past 12 months, the farm generated $5.8 million in revenue, but returns do not justify the capital investment. To ease pressure, we sold $1.1 million of stock between July and October.
Staff have limited access as Tauwhareparae Rd remains closed due to landslides. We’ve invested $700,000 in fencing repairs and are exploring permanent carbon farming for 1,534 ha of pine planted in the 1990s.
Moving forward
Our farming adaptions provide optimism that we’re creating a commercially viable operation that will become a showcase of high-country farming on the East Coast.
Our farm inland of Tolaga Bay is 11,252ha and winters 37,426 stock units (16,066 cattle and 21,396 sheep). We employ 10 staff whose resilience and commitment over the past two years has been outstanding.
Falling protein and carbon prices, as well as the catastrophic weather events of 2023, mean keeping the farm operating at an appropriate standard is a challenge.
In 2024 Tauwhareparae Farms & Livestock was restructured from three operational farms to two, to maximise efficiencies.
Our Assets
Property Holdings
We manage 120 community houses on behalf of GDC.
We own and manage a portfolio of properties under our asset arm Property Holdings.
Within that, we manage 120 rental units in Gisborne and Te Karaka for tenants 55-years and over. The portfolio also includes Awarua (GDC’s administration building on Fitzherbert St), and eight other properties including a house and office in Ruatoria.
Land on Childers Rd next to Mātai Medical Research Institute remains in our portfolio. So too does Wash’n Go Gisborne Auto Wash, a cashless vehicle wash on Carnavon St, open 6am-11pm daily.
Performance
Over the past 12 months Property Holdings has earned $3 million with a net profit before tax of $605,000.
This year we developed an asset management plan for the 120 community homes in the region owned by GDC. It highlights an $8 million investment needed to upgrade the houses’ 40-year-old bathrooms and kitchens, and installation of double glazing.
In 2022 we sold land on Childers Rd to Mātai Medical Research Institute. The institute has developed a campus on the site supporting medical imaging research, medical sciences, and biotechnology.
Moving forward
We’re working with Mātai Medical Research Institute and Trust Tairāwhiti further developing the campus on Childers Rd, Gisborne.
Our Assets
Waikanae Beach Top 10 Holiday Park
Our contemporary and comfortable seaside accommodation.
Waikanae Beach Top 10 Holiday Park is the region’s largest accommodation provider. It can hold over 800 people in a range of accommodation.
Nestled alongside the Pacific Ocean the holiday park is just a 10-minute walk from the centre of Gisborne.
From ocean view apartments to non-powered campsites, the park has a Top 10 Superior Park ranking and remains a popular holiday destination for visitors to the region.
Performance
This past 12 months we recorded 48,730 guest nights (47,500 in 2023), with roofed accommodation occupancy of 67 percent.
The holiday park recorded a 62.82 net promotional score (51.96 last year), and a global review index score of 87.1 percent (82.6 percent last year).
The park turned over $2.8 million in revenue and made a net profit before tax of $523,000.
This year we invested $800,000 into full internal renovations in ten self-contained units.
Moving forward
Our development plan for Waikanae Beach Top 10 Holiday Park includes upgrades to the main amenities block, the motel units, and the entrance reception area.