Published 17 July 2008
Todd Capital Ltd (the Todd family of Wellington) said today it had acquired the shareholdings in the land development & viticulture businesses of the Landco group that it didn’t already own, from interests associated with Landco founder Greg Olliver.
Mr Olliver was replaced as a director of a number of Landco companies by Todd representatives on 9 July, though he was still listed today as a director of parent company Landco Ltd (and his interests as holding a bare majority of shares).
Former SkyCity Entertainment Group Ltd managing director Evan Davies has been appointed managing director of Landco’s land development business. Mr Davies left SkyCity in June 2007 after heavy criticism for a downturn in financial performance and was appointed chairman of CER Group Ltd, which specialises in developing innovative sustainable businesses, in November.
Landco’s land development business is primarily development of the Stonefields suburb in the former Winstone’s quarry at Mt Wellington, development of a new suburb above the beach & regional park at Long Bay and negotiations on how to proceed with proposed development at Ngunguru in Northland, which might be resolved through a land exchange with Crown entities.
Mr Olliver started his ambitious Auckland development projects in 2000 after moving up from Christchurch. He retains private development interests separate from the Landco business, particularly his major proposals for residential redevelopment in the suburb where he lives, St Heliers, but has put properties in the St Heliers village shopping centre on the market.
U: The names behind the action, the week to 13 July 2008, part 4, Receivers at Pheonix Trust, Todd rep replaces Olliver on several Landco boards
28 February 2008: St Heliers centre plan change all but approved
7 November 2007: Olliver gets approval for St Heliers redevelopment
15 October 2000: Long Bay concept plan released
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Attribution: Company release, story written by Bob Dey for this website.