The ability to diversify its shareholdings from complete reliance on Port of Tauranga shares has been a goal of Quayside Holdings. To this end, in 2003 Quayside Properties Ltd was established as a 100 per cent subsidiary of Quayside Holdings to facilitate strategic investments in the property sector that would provide social and economic benefits to the Bay of Plenty region.
In 2016 Quayside took up the opportunity to purchase and refurbish the old ANZ building at 53 Spring Street, Tauranga. Called ‘The Vault on Spring’, the purchase has created a unique regional investment hub comprising a range of businesses involved in investment and innovation. It has also proven to be a catalyst in the attraction of new businesses to Tauranga such as EY, Tompkins Wake and Hobson Wealth Partners. Other tenants include Oriens Capital, Enterprise Angels and TSA, as well as Quayside itself.
The Vault on Spring has put Tauranga in the enviable position of being the only region outside Auckland, Wellington and Christchurch with all parts of the investment value chain represented. The tenant organisations are involved in investments across the whole of New Zealand and their close proximity to each other, and to Bay of Plenty businesses, has resulted in synergies being identified and valuable collaborations taking place. As landlord, The Vault on Spring also provides commercial returns for Quayside.