Ayrburn developer Chris Meehan. PHOTO: VAUGHAN BROOKFIELD One of the Queenstown Lakes’ most prolific developers has stepped down from his company ‘‘for health reasons’’. In a statement issued to the NZX and ASX on Thursday afternoon, Winton Land Ltd’s corporate services general manager Justine Hollows said chairman and chief executive Chris Meehan’s leave had been notified ‘‘during the concluding stages of a board-led employment process with Mr Meehan’’. Mr Meehan had informed his board the day prior he was taking leave as chief executive, effective immediately. Soon after, the company was granted a trading halt, which applied to both the New Zealand and Australian stock exchanges. Its application stated the halt was requested ‘‘pending ... a material announcement about Winton’s leadership’’, and the company considered it appropriate no trading occurred while the details of the update were finalised. The board was ‘‘confident that the senior leadership team will continue to successfully deliver on Winton’s plans and performance’’, Ms Hollows said. ‘‘For privacy reasons, Winton will not be commenting further at this time. ‘‘The board will update the market on further material developments.’’ Other members of the Winton board are Mr Meehan’s wife, Michaela, a non-executive director, executive director and director of retirement Julian Cook, independent directors Glen Tupuhi, Steven Joyce and Guy Fergusson, and non-executive directors James Kemp and Josh Phillips. According to Mr Meehan’s biography on the company’s website, prior to establishing Winton, he founded the Belle Property real estate franchise in Australia in 1999, which he grew to comprise about 25 offices across Australia and New Zealand prior to its sale to private equity interests in 2009. At that time, he and his wife founded the business operations for Winton Land in Australia, later expanding in to New Zealand — the company now has a portfolio of about 6000 residential lots, dwellings, apartment units and retirement village units on both sides of the Tasman. In the Queenstown Lakes District, developments include Wānaka’s Northbrook, Northlake and The Preserve, and in the Wakatipu, Bridesdale Farm which neighbours Lake Hayes Estate, Lake’s Edge at Kelvin Heights and Arrowtown’s Ayrburn hospitality precinct, alongside three neighbouring ‘‘Ayr Residences’’ — the only freehold Ayrburn lots that will ever be for sale — priced from $9 million to $12m. In April, Winton Land Ltd was granted fast-track approval for the Ayburn Screen Hub. That would be located near the hospitality precinct and comprise an all-inclusive film studio, including studio buildings, workrooms, office space, dressing rooms, a screening room and meeting space and 201 short-term accommodation units — the appeal period on that decision ended about two weeks ago. This week, Mountain Scene revealed a hold had been put on Ayrburn’s planned Northbrook Arrowtown retirement village, to comprise 168 one-, two- and three-bedroom residences. Instead, consent was being sought for a large health club to take the place of the retirement village’s reception building, after which the company would make a decision on Northbrook Arrowtown. Mr Meehan said this week he remained committed to that project, but it would stall for ‘‘probably a year’’. tracey.roxburgh@odt.co.nz
