Darby projects move ahead

By Chris Hutching

Friday 21st May 2004

Projects associated with southern property developers John Darby and Mike Coburn at Jack's Point, Queenstown and Clearwater Resort, Christchurch gathered momentum this week as financial and zoning deals were finalised.

At Clearwater the developers have clinched an agreement with Christchurch International Airport that will allow a further stage of development at the resort, which was brought to the market in the late 1990s when the late Howard Paterson had a major stake. His partners and friends Darby and Coburn bought out his interest late last year. When asked if the resort was in profit yet, Coburn said: "I think we're on the last straight now."

Darby said an Environment Court-ratified zoning agreement with the airport was fundamental to beginning a new phase at Clearwater but he was coy about when marketing of new product would begin. Resource consent applications will still be required for particular buildings and may take some months yet.

Meanwhile, at Jack's Point, work on a golf course would begin immediately before "building the brand" and then building clubhouse facilities and selling real estate.

Comments from our readers

No comments yet