Wellington ‘Game changer’? Sir Peter Jackson's $136m-plus Lyall Bay land buy

Thursday, 29 August 2024

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A $136 million Lyall Bay land deal tied to film power duo Sir Peter Jackson and Dame Fran Walsh has a city councillor hoping for a Wellington “game changer“.

Exactly what Jackson and Walsh have planned for the mega-site on Lyall Bay — between the coast, Bunnings and the Warehouse — has remained a closely-guarded secret but film and vintage aviation museums are the hottest rumours.

The Post in December revealed that a company owned by Jackson and his partner Walsh had bought a seaside block bordered by McGregor St, Tirangi Rd, Kingsford Smith St, and Lyall Parade. It was last week revealed that the pair were tipped to be the new owner of a much larger block, immediately inland to the existing block.

Now property records reveal the extent of the land deal.

The smaller, waterfront section was earlier sold for $32m to LB HC — a company solely directed and owned by Jackson and Walsh.

The much-larger, rear section is a little murkier though still with clear ties to the couple.

A dozen adjoining properties were sold as a $104m bulk lot in March. All are currently owned, on paper, by Wellington property investor Eyal Aharoni but were transferred to Jackson and Walsh’s LB HC on July 23.

While some properties on the fringe of the block appear not to have changed hands, most of the remainder of the land has already been flattened with some of it being used as a Wellington Water yard.

Civic leaders, including Mayor Tory Whanau, who would usually know about a major Wellington development, have been notably tight-lipped about the goings-on at Lyall Bay but informed sources have tipped it to be a big deal.

Some rumours suggest an ambitious development that will become a city landmark.

Now, for the first time, a city councillor has given some strong hints.

Tim Brown, a former chairman at Wellington Airport, which was until recently the lessee of most of the $104m block, has talked of what he hoped would go there.

It was well known the film power couple had accumulated a “remarkable” collection of movie memorabilia and had been considering a film museum for at least 15 years, he said.

'We also know what incredible WWI exhibitions Sir Peter produced a decade ago.

“If this land holding is to become the base for the long heralded museum it would truly be absolutely fantastic and a game changer. Kilbirnie is an area council is targeting for growth.”

It was also an area the government was targeting for road improvements, he said.

“Were Jackon/Walsh to be about to build a film museum, that would be a perfect fit with both council and government's plans.”

He thanked the Greater Wellington Regional Council for moving a planned bus depot from the site — around the same time the $104m deal was going through.

Fellow ward councillor Teri O’Neill said she had asked staff, when the Metlink bus yard was moved, if Jackson and Walsh were involved.

“[Staff] said, ‘we couldn’t possibly say’,” she said.

But Jackson and Walsh were known to get closely involved in communities where they were based and it would be great if they got involved in the Lyall Bay community and maybe helped the planned build of the nearby Huetepara Park, where a viewing platform, deck, showers, board walk and skate ramp were planned opposite the beach, O’Neill said.

Any development could be boon for the small retail development of boutique shops at the southern end off Kingsford Smith St, she said.

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