Property Insider: $2b Samson Corp’s problems with failed builder Vivian Construction

The builder was contracted to upgrade retail and commercial premises on the Jervois/Ardmore Rd corner.

The builder’s website and Facebook page are no longer active.

On Friday, Derek Ah Sam and Paul Vlasic, of Rodgers Reidy (NZ), were appointed liquidators.

Jeff Vivian, of the builder, acknowledged issues at the Samson project.

“There’s some money owing. I’m sorting it out. I have done everything right to make it good.”

Vivian Construction revamped and upgraded Takapuna Grammar School’s pool.

Scott said Samson was particularly concerned about subcontractors at 172 Jervois Rd.

Some had complained they were owed money by Vivian Construction as the head contractor.

“We are very unhappy that they have been placed in this position.

“Samson has met its obligations under the construction contract to date, paying Vivian Construction all amounts certified by the project’s independent quantity surveyor, as per the contract,” Scott said.

Samson was disappointed that the project reached this point, “and we are now focused on moving it forward responsibly with NZ Strong as the new head contractor. Work has resumed and is progressing”.

Glenfield sale: key questions

Property investors Ross and Dallas Pendergrast.

Ross and Dallas Pendergrast are not saying what they will do with the $146 million proceeds from the sale of their Glenfield Mall.

Agents at JLL who announced the sale are not telling about the Australian syndicate that is the buyer.

But the mall does appear to have sold at a premium to its $130m valuation.

Glenfield Mall was sold for $146m.

Precisely what the Australians plan at the shopping centre is also yet to be explained.

Waiwera success. Now what?

Plans for Waiwera with the reception area and history storyboard to the right.

The Waiwera Thermal Springs developer has won resource consent but it is yet to buy the land from Urban Partners.

Brandon Batagol, the Melbourne-based joint managing director of the development business, said the sale and purchase agreement with Urban Partners had conditions.

Brandon Batagol, a director of the business which is planning to develop thermal springs at Waiwera. Photo / Anna Heath

One was that the developers must get Auckland Council consent for the new resort before paying for the land.

The developer is also yet to raise enough money to do the development.

Batagol said funds were being sought from investors who may be in Australia, here or elsewhere in the world.

The collapse of a hillside at Waiwera in April “was some distance from us to the west. I am absolutely sure Auckland Council took that into consideration in their assessments,” Batagol said.

Arvida $720m plans

The latest Overseas Investment Office (OIO) decisions show retirement village operator Arvida is forging ahead with its New Zealand expansion.

The company, which is owned by the Stonepeak Asia Infrastructure Fund and managed by the New York-based investment firm Stonepeak Partners LP, plans to spend $720m at three sites.

On July 1, Arvida RV2 gained approval to buy a 10.6ha site at Havelock North for a 185-unit retirement property.

Arvida RV2 is a subsidiary of Arvida Ltd and is 43% owned by Asian investors, 38% Middle Eastern, 13% North American and the remainder held by various parties.

The vendors of the property are Landsale Development, Almo Properties and Susan and Michael Bourke.

They are selling 8.8ha at 28 Thompson Rd and 1.8ha at 176 Napier Rd.

Arvida will also build 28 dual-purpose care suites, associated infrastructure, amenities and roading, the decision said.

Arvida Bethlehem Country Club in Tauranga. Photo / Google Maps

Arvida also won consent to buy land which is part of the Waikanae Golf Course to build retirement properties.

On July 14, Waikanae Beach Retirement Village won approval to buy 1.05ha of land at 97 Te Moana Rd. The price was withheld.

An Arvida spokesman said a resource consent application was expected to be lodged shortly for the Havelock North project.

A $230m development will include 187 villas, a clubhouse, and 40 care suites.

Plans by Arvida for a new home in a retirement development in Wānaka. Image / Arvida Group

At Waikanae Beach, $260m plans are for 155 villas and townhouses, 18 apartments, 40 care suites, and a clubhouse.

“We expect to deliver the first 16 villas in early 2027.”

In Wānaka it has also gained resource consent for 158 villas and townhouses, 28 care suites, and a clubhouse.

Site preparation was done.

“We expect to deliver the first villas in mid-2027. Once complete, around $230m will have been invested,” the spokesman said.

Wolfbrook exemption

Wolfbrook Residential has won an exemption from the law banning foreigners, except Australians and Singaporeans, from buying residential property.

That exemption from the Overseas Investment Office is allowed under the large residential developments exemption scheme.

Wolfbrook applied to have a scheme at 25 Churchill St in Christchurch listed under that.

It plans 48 units in a three-level block at 25A and 25B Churchill St.

The Foundation

Site of the new 13-level tower slightly to the right of the trees in the centre of this image. This shows Blind Low Vision, shops and The Foundation retirement property in Parnell. Photo / Jason Dorday

The contract to build the new 13-level block at The Foundation by Generus Group in Parnell will be announced soon.

Kalmar Construction built the first two blocks.

But Graham Wilkinson, of Generus, said he was in talks with Icon about it building the largest building there.

Many contractors were keen on the work, he said.

Precinct appoints GN

Scott Pritchard, CEO of Precinct Properties, at the Pillars site last August. Photo / Jason Dorday

GN Construction won the contract to build Precinct Properties’ new Pillars in St Mary’s Bay.

The project is at 99 College Hill Rd.

Ruby Clavey, of Bayleys, said last week that 25% of the project had been pre-sold.

GN started on the site on September 1.

Williams Corporation wins $12,734

On August 23, the High Court at Christchurch issued a decision on paper in the case brought by Williams Corporation against The Hollard Insurance Company and Ando Insurance Group.

The insurers must pay Williams $12,734 plus expenses.

The ruling said the insurers had to pay because their delay in answering questions had forced Williams to make a court application to get answers.

Last December, Williams issued a notice requiring the insurers to answer questions.

Yet those answers only came in stages.

The court said the parties should try to resolve matters informally.

The insurers did not challenge the sum ordered to be paid to Williams.

Williams Corporation managing director Matthew Horncastle said he could not clarify what the case was about.

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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