Quayside Holdings Limited is the investment arm of the Bay of Plenty Regional Council. It is via a subsidary, the majority holder of the Port of Tauranga Limited. Quayside Holdings Limited is also an issuer of debt securities on the New Zealand Exchange.
Quayside Holdings Limited is a Council Controlled Organisation (CCO), it being established by its sole shareholder the Bay of Plenty Regional Council in 1991. Its initial purpose was to acquire and manage the commercial investment of the Council, namely its majority interest in the Port of Tauranga, which it holds through a subsidiary company.
Quayside is governed by a Board of Directors.
Over time, interests in property and shares have been added to the portfolio. Today Quayside continues to seek new regional opportunities for investment with which to diversify its income base.
Quayside controls its investment through a number of group companies. To view the group structure click here.
As a Council Controlled Organisation, Quayside must negotiate with the Regional Council a Statement of Intent, the basis on which activities and objectives are set annually.
The success of the investment in the Port of Tauranga Limited enabled Quayside, in 2008, to issue $200 million of Perpetual Preference Shares (PPS). The Shares, held by over 3,500 shareholders are tradable on the New Zealand Exchanges NZDX market. The proceeds from the issue of these non-voting units provides the basis for the Regional Councils $200m Infrastructure Fund, from which the Council funds some of the regions infrastructure development.
Since its inception Quayside has continued to exercise a commercial focus on its investments. The benefits to the region include:
In the current year (to 30 June 2015) the benefit of the Quayside distribution to Council is equivalent to $130 of benefit for every rate paying household in the Bay of Plenty region.