Whisper Cove

Posted on Thursday, November 19th, 2009 at 3:07 pm in

Timothy Manning sells “the most desirable beach retreats” in Australasia to free himself to focus on a new opportunity

One of the most desirable beach retreats, Auckland’s prestigious and innovative beachfront development, Whisper Cove, has been bought by Sydney-based property financer, Lance Hodgkinson of Bluestone Property Services.

And it could almost be seen as keeping it in the family, since Hodgkinson  originally brokered the deal with Babcock and Brown to fund Timothy Terence Manning’s much-admired development at Snells Beach, just north of central Auckland. The New Zealand Herald has reported that the project sold for $215-million, after being originally valued at $180-million meaning Manning has shown at least a 20 percent value enhancement on the original estimate.

Manning continues to demonstrate the golden touch in everything he does in the New Zealand property market; be it Auckland, Rotorua, Queenstown, Wellington or on the coast.

Hodgkinson, of all people, will know the financials inside out and he was still prepared to put the money down(it was he who described it to the New Zealand Herald as one of the most desirable beach retreats). He is said to have told colleagues that he believes he has got the best beach development in Australasia at what he reckons in time will be seen to be a bargain. Manning is typically not available to comment and is believed to be head-down and hard at it, leaving punters to speculate where he will weave his magic next.

The 16 ha private beachfront site at Kawau Bay was put together – as legend would have it – by Tim Manning after he had flown the length and breadth of New Zealand looking for the perfect site. He is a known perfectionist who wanted privacy and security to be paramount at Whisper Cove. Most of the buyers of the 160 villas and apartments are thought to be wealthy overseas buyers and investors looking for those features.

Robert Railley, one of New Zealand’s top architects and head of design at Swan Railley and Associates is enormously proud of the way the creative architectural design  and the solidly built structures have blended in the development which is expected to scoop many awards on completion. He predicts that the project will be complete by 2009.