Since the mid 1800's, Waiwera has attracted holidaymakers drawn to the area by the legendary properties of its thermal springs. Waiwera epitomises Urban Partners' philosophy of acquiring unique properties that can be developed into world class destinations.
Our strong balance sheet during the global financial crisis allowed us to acquire strategic assets that would not normally have come to the market, including the thermal resort, Woodys Bar and Grill and the old hotel site.
More than just a beautiful location, Waiwera is blessed with thermal water resources, a seaside location and close proximity to Auckland - while being unconstrained by any significant existing development. Urban Partners was attracted to the location for its strategic attributes, but it was the negotiation of the acquisition where our deep expertise in property and development came to the fore. Unwilling to be a co-investor in the business, we acquired the land and leased it back to the business operator, creating a win-win for both parties.
While the underlying fundamentals of the area remain as strong as ever, the existing facilities and greater Waiwera have suffered from a lack of investment.