Award-winning Toa Architects owes $1.03m, founder Nicholas Dalton plans to start again

Inside Te Taumata o Kupe at Pt Chevalier, which was designed by Toa Architects. Photo / Anne Gibson

Director Nicholas Lee Dalton said trading stopped immediately and all employees were let go.

“During the interview, the director stated that he intends to start a new entity and he would like to purchase the company’s assets, tangible and intangible,” the report says.

“The liquidator is currently negotiating the sale price with the director’s business adviser.”

Te Taumata o Kupe in Pt Chevalier won an architectural award. Photo / supplied

The liquidator has identified two vehicles that were sold before the liquidation. The vehicles are estimated to be worth $27,200.

Dalton has been asked to provide information relating to these sales.

Te Taumata o Kupe by Toa Architects is at 73 Premier Ave, Point Chevalier. Photo / Anne Gibson

The financial information provided by the company’s accountant estimates that $234,866 is owed to the company in relation to an overdrawn current account.

Dalton, also the sole shareholder, agrees there is an overdrawn current account but believes this sum is incorrect.

Inside the Pt Chevalier building designed by Toa.

Creditors are listed as ANZ Bank, ASB Bank, Monument Finance, business payment platform Procuret Operating NZ and Ricoh.

Law Debt Collection, I Roto and individuals were also named as creditors, but amounts owed to all preferential or unsecured creditors are yet to be quantified.

The practice designed Taumata o Kupe at Te Mahurehure Marae, Pt Chevalier.

That building is one of the most important in terms of modern Māori architecture in this country, according to Grant Bulley, formerly of Toa and more recently of the NZ Institute of Architects.

In July, a Toa spokesman said that for more than 12 years, the practice operated as a tax-compliant and growing practice.

The turning point came after its involvement in Auckland light rail when it “invested significantly in people and capability in response to what was presented as a long-term, nationally significant programme of work”.

Toa grew to a team of 35 architects, designers and support staff, building the capacity required to deliver one of New Zealand’s largest infrastructure projects.

Te Taumata o Kupe has been described as one of the most important in terms of modern Māori architecture in this country. Photo / David Straight

When that programme was cancelled, that anticipated pipeline of work disappeared almost overnight.

“Toa was left carrying the cost of a business that had been built to deliver a generational infrastructure programme, but without the revenue that programme was expected to generate.”

Although it continued to win and deliver quality work, the practice had to be restructured and cashflow came under sustained pressure, the spokesman said.

Another report on the liquidation, providing further details, is due out in a few months.

Anne Gibson has been the Herald’s property editor for 26 years, written books and covered property extensively here and overseas.

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