Generous and with an eye for a good deal, Aucklander John Sax has become one of New Zealand’s most successful property developers.
Sax is behind a range of companies, perhaps the most prominent of which is Southpark Corporation. Southpark has extensive land holdings and is one of Auckland’s largest industrial landowners; its redevelopment projects include the Hellaby, Taniwha and Shortland Works, Pikes Point and Christchurch’s Waterloo Business Park.
One of Southpark’s most prominent developments has had something of a mixed year. The Kensington Park housing development in Orewa is a luxurious, 400-home development bought out of liquidation and completed by Southpark in 2009. Last July it took home an Excellence award in the Multi Unit Residential category of the New Zealand Property Awards, with judges commending its ability to blend into the native bush next door. However, reports surfaced in February about a Kensington Park couple seeking compensation after a drainage problem caused water to seep into their apartment. The case is continuing.
Work is continuing on the Market Grove development in South Auckland, which will house about 4000 people in 14 homes by the time it’s completed. The $1 billion project was delayed when costs rose and Sax proclaimed he wanted a fair percentage of the buildings to be affordable for people on lower incomes to afford homes. It is set to be completed in four to eight years.
Sax is also behind the luxury Treetops Lodge and Estate outside Rotorua. Set on 1000ha of native forest, the lodge offers a vast range of experiences and serves “estate to plate” food. It has no wifi, with Sax encouraging visitors to spend time with each other instead of online. Rates start near $995 a night.
Sax began his business career selling dutyfree sports gear after dropping out of university. He is well known for encouraging young people to follow their dreams, and founded the For the Sake of Our Children Trust to help children in need. He and his wife Alma have two children, and live in Epsom.
2018: $230 million