Potter building firm base in the not-so Shaky Isles

GOLD Coast developer John Potter, who fell in love with New Zealand during a 1970s ski trip, is capitalising on the country’s buoyant economy to undertake projects on the North and South islands worth a total of $55 million.

One is an exclusive apartment building in Auckland in which he had already sold one of the penthouses for $NZ5.5 million.

The other is a subdivision in Queenstown in which 15 lots out of the 53 being developed have sold ahead of titles being issued.

Mr Potter, a former CEO of listed housing company Villa World, yesterday said he was taking advantage of the strength of the astutely-managed New Zealand economy.

“I’m amazed at the growth that is occurring, considering the effects of the GFC on most other nations. This growth is coming on the back of what has been a new age of tourism for our neighbour.”

Mr Potter said his passion for New Zealand started in the 1970s during a skiing holiday in Queenstown.

“Those were the days when we couldn’t fly into Queenstown – we had to drive there from Christchurch.”

Mr Potter and an associate built a holiday home in the town in the early 1990s.

When it was sold three years later, Mr Potter bought a development site in the heart of Queenstown and overlooking Lake Wakatipu.

He built eight apartments and has retained one of them as a holiday base.