Who owns Westhaven?







Westhaven Marina is a boating facility, but it’s also an important section of the waterfront that belongs to the people of the city, and which Panuku Development Auckland is opening up for all to enjoy. 

 

In legal terms, Westhaven Marina is owned by two trusts. Westhaven (Existing Marina) Trust (encompassing pier A to the west side of pier T) was established with the founding of the Marina, and Westhaven (Marina Extension) Trust (from the east side of pier T to pier X) was established when the Marina was extended in the mid 1990’s. 

The seabed is owned by Auckland Council, and the facility is managed on behalf of the Berth Entitlement Unit (BEU) holders by Panuku Development Auckland which employs the team at the marina office to take care of the day-to-day operations.

Westhaven Marina Limited (WML) is the corporate Trustee of Westhaven (Existing Marina) Trust and Westhaven (Marina Extension) Trust. The company has three directors who are appointed by the company’s shareholder, Panuku Development Auckland. One director is independent. 

As trustee of the Existing Marina Trust and the Marina Extension Trust, Westhaven Marina Limited has duties to:

  • adhere to the terms of the trust deeds; 
  • act in the beneficiaries’ best interests; 
  • act impartially having regard to the interests of all beneficiaries of the trusts; and 
  • provide the berths in accordance with the terms of the licenses.

 

Panuku Development Auckland is a council-controlled organisation (CCO) and is 100% owned by Auckland Council. Panuku Development Auckland has three distinct purposes in the Westhaven area:

  1. It is the manager of Westhaven (Existing Marina) Trust and Westhaven (Marina Extension) Trust. 
  2. It owns 50.5% of the BEU’s in Westhaven Marina. Panuku Development Auckland pays annual charges on the same basis as all other BEU holders. 
  3. It is the owner of the assets in Westhaven and is the shareholder of Westhaven Marina Limited. Panuku Development Auckland is fulfilling its primary capacity as a development agency in preparing the Westhaven Plan which is a plan to guide the development and maintenance of the marinas land and on-water assets.