Forex
RNZYS Sells Multi-Million-Dollar Kawau Island Properties to Ngati Manuhiri
The Royal New Zealand Yacht Squadron has sold its Kawau Island properties to Ngāti Manuhiri for a multi-million-dollar sum. The sale includes historic Lidgard House, jetty, and boathouse on a 33,000 square meter site.
The RNZYS bought the property from BP in 1989 for $4 million. The new owner has offered to let the squadron continue using the beachfront area twice annually during summer months for events like Squadron Weekend and Youth Training Week.
The sale price was not publicly disclosed, but the combined RV of the properties was around $4 million.