Sensation sells up in Auckland
by Jeni Bone on 25 Jan 2009
The Carrington, Newcastle facility was deemed to small for Sensation’s ambitions for the future. MIAA
The Auckland base of superyacht builder Sensation Yachts is up for sale by mortgagee sale.
Owned by Ivan Erceg, Sensation Yachts and the property being sold are located at Henderson, between Auckland and the upper reaches of Waitemata Harbour.
Sensation Yachts has built some of the world's most expensive pleasure craft at its Henderson yard. The company also owned a shipyard in Carrington, Newcastle which it sold last year to Iain Murray's Azzura Marine when Erceg announced plans to move operations to a $500m state-of-the-art facility in Singapore.
Established in Auckland, New Zealand in 1978, Sensation Yachts has held the mantle as one of the world’s top 10 manufacturers of superyachts.
Although Sensation has been one of the most successful operators in the New Zealand marine industry, its frequent disputes with customers, creditors and staff have seen its name make more headlines for turmoil than triumphs.
The company's head office and main building yard was originally owned by Michael Erceg, who built Independent Liquor from scratch into a $1 billion business. He died in a helicopter accident in 2005, after which ownership of the site was transferred to Erceg's family trust, which then transferred it to Ivan Erceg in 2006.
The property was subsequently mortgaged to Hongkong Bank which holds security for up to $10.78 million over it, although it is not known how much the bank is owed.
More at www.sensation.co.nz
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