Two United States-based business developers and a Queenstown
businessman have been recommended as the preferred developers
for the proposed $10 million Frankton Marina.
The Frankton Marina working party has recommended Lakes
Marina Projects Ltd be chosen to develop the marina. The
Queenstown Lakes District Council will be asked on Tuesday to
appoint the group as the ''preferred developer''.
Lakes Marina Projects was specifically formed to undertake
building the proposed marina and the founding shareholders
are Nasser Barabi, Iraj Barabi and Alan Kirker.
In a written expression of interest in response to the
council's development brief, it is said the Barabis
''currently own and manage one of the fastest-growing
privately held technology companies in the San Francisco Bay
area'', employing more than 200 people and with sales of more
than $US60 million ($NZ71 million). They also own and manage
residential and commercial real estate holdings in the United
States, Auckland and Queenstown and ''propose to move here
Mr Kirker is a Queenstown businessman with an interest and
experience in marine businesses. He has operated the Yvalda
charter vessel on Lake Wakatipu for more than eight years and
his family was responsible ''for the successful marina at Te
Anau'', the expression of interest said.
Lakes Marina Projects has included 100 berths in stage one of
the marina project, and it would add
a further 100 berths in stage two. Stage one of the
development was expected to cost $6.5 million and would be
funded privately by major shareholders.
The expected cost of stage two was $3.4 million and
''additional bank financing is available to LMP through local
Construction of stage one was expected to take 12 months and
work could start immediately after consents were granted. The
construction date for stage two would depend on demand.
The working party has reviewed the proposal and said it
complied with the council development brief created in
In August 2011, the council cancelled its agreement with
Queenstown Marina Developments Ltd, five years after the
company first mooted an offshore marina, and subsequently
sought expressions of interest from interested developers.
Also in August 2011, the Otago Daily Times reported Mr Kirker
and his United States business partners were keen to
establish an inshore marina capable of holding 130 berths.
The next step would be to finalise a draft agreement between
the council and Lakes Marina Projects Ltd and make a draft
agreement to enter into a lease of reserve land, although the
appointment of the preferred developer would not be binding.
''There will be no binding commitment from council until both
the development agreement and the reserve's deed of lease are
made unconditional to the satisfaction of council,'' the
development brief says.
Lakes Marina Projects intended to undertake more formal
consultation ''when the council confirms that LMP are the