PROPERTY
Worth: $140 million
PHILIP CARTER has a $40 million war chest from his sale of a former Queenstown camping ground that will be developed by Hanover Group. He is now looking for new investment opportunities. The repositioning of the Crowne Plaza Queenstown, where he took a $20 million joint venture interest, has also taken his focus in recent months. He generally stays in his holiday home there. Between his work at Queenstown and regular trips to Europe and Australia, he fulfils duties as director of Christchurch International Airport. In central Christchurch, he owns hotels, commercial properties and blocks of residential land. At Hanmer he owns a strip of commercial buildings. His headquarters are in the Regent building in Cathedral Square, Christchurch.
Last year he bought a property near Sumner where he will be closer to his father, 89-year old Maurice, who founded the empire that Phillip bought out from other members of the family including brothers Tony, chief executive of Foodstuffs, and David, National list MP. The purchase of the Hurst Seager-designed Kinsey Tce house on Clifton Hill was controversial because he decided to demolish most of it and the neighbours kicked up a fuss because of its historical associations, and possibly something to do with their views. It was the house where Antarctic explorer Ernest Shackleton ate his last supper before heading south a century ago. The demolition squad did a thorough job - right down to an anchor in the garden that had been salvaged from one of Shackleton's ships. It took a couple of calls to his mate, construction magnate Buzz March, who employed the gang, to ensure the anchor was returned after some persuasive talk.
2005: $140 million
