Around the Traps

By Christine Nikiel

Friday 14th June 2002

Bill Gates buy rumoured in Nelson

Revelations from the US this week about the FBI foiling a terrorist bomb that would have spread nuclear waste over a wide area can only spur more northern hemisphere interest in New Zealand residential property, according to a Nelson real estate source. He said a mate of his was approached recently by a visitor from New York who signed a cheque on the spot for his business at a first meeting. The New Yorker was buying it for his daughter in a move that is becoming increasingly common. Some of Nelson's newer subdivisions such as The Cliffs near the Tahunanui end of town have attracted attention from the likes of the Business Roundtable's Nelson-raised Roger Kerr, who was reported to have bought a couple of sections earlier this year. But according to other locals, one of the worst-kept secrets in town is that US Microsoft billionaire Bill Gates was visiting over the summer holidays and was so impressed he also bought sections in the same neighbourhood. One agent said the September 11 terrorist attack might have been one of the most significant catalysts for the residential market in places like Nelson and Queenstown because of the renewed attention from Americans identifying a clean, green bolthole.

Billionaire buys high country station

Another South Island high country station has been sold to an overseas buyer. US hedge fund billionaire Julian Robertson, who already has property in Northland, bought Brooksdale Station near Porters Pass in inland Canterbury for $6.75 million. Mr Robertson is understood to have learned about the 4538ha farm from friends. The new owner passed the Overseas Investment Commission test by promising to increase more stock and "proposing to investigate in the longer term the tourism opportunities associated with the property." One of the farm's big attractions is trout-stocked Lake Rubicon. The OIC gave the go ahead in its February decision sheets and named Mr Robertson as the buyer but local people only recently realised who he was. Pyne Gould Guinness agent John Healy clinched the deal.

AMP celebrates PWC

AMP officially celebrated the opening of its $171 million PriceWaterhouseCoopers tower last night, although the building has been open and tenanted for several months. AMP held a black tie dinner to celebrate the "Pearl of the Pacific," with Aussie rugby wag Peter FitzSimons as MC. Our ubiquitous prime minister also attended - just one of a string of engagements she had that night - and, with anchor tenants Buddle Findlay and PricewaterhouseCoopers, unveiled the building's massive artworks. It was something of a disappointment nobody was brave enough to ask if maybe she'd like to sign something.

Email Traps items to cnikiel@nbr.co.nz

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