News and Publications

Property News: 12 February 2018

Quake grant revives Lambretta's

The home of a landmark Nelson eatery has had a major makeover, thanks to a government grant to help strengthen earthquake prone heritage buildings.

The upper floor of the former New Zealand Insurance building in Hardy St, that houses Lambretta’s Cafe Bar, has opened as office space, after nearly a quarter of a million dollar upgrade.

The building, built in 1955, was the first in Nelson to get a grant from the Heritage Earthquake Upgrade Incentive Programme, (Heritage EQUIP); a scheme announced by the government last August.

Receiving the $94,700 cash injection was a big incentive to get the work done, co-owner Ben Van Dyke said.

The grant helped pay for the steel reinforcement of the two storey building, listed as a category two historic place.

The top half of the building was now well above the accepted quake proofing standard, Van Dyke said.

(The Nelson Mail, Wednesday 7 February 2018)

Golden Bay grandstand fight moves past $200k

The grandstand trust has spent over $80,000 trying to save the historic building in Takaka from demolition.

In a statement released last week, The Golden Bay Grand Stand Community Trust said it had incurred a debt of $64,863 to date.

It had cost the trust $81,192 to fight against the grandstand’s demolition.

The $17,000 remainder had been paid for by donations and fundraising efforts.

Golden Bay Grand Stand Community Trust trustee Hazel Pearson said it was "the financial equivalent to the emperor’s new clothes".

She said $6233 has been returned to Pub Charity, and that it still had a balance of $52,136 after borrowing $112,000.

"In monetary terms, debating the movement of 10 carparks 15-20 metres has already cost the region more than $230,000," she said.

(The Nelson Mail, Wednesday 7 February 2018)

Cathedral quake work wait

Nelson’s Christ Church Cathedral is expecting to know the extent of work to strengthen the historic building this year.

The cathedral board is waiting for an expert assessment following an initial report in late 2016 that showed parts of the historic cathedral’s nave and transepts met only 25 per cent of the earthquake building standards.

A building needs to be at least 33 per cent of the New Building Standard to achieve an acceptable rating.

Nelson Diocesan Trust Board trustee David Allpress said Wellington consultants Dunning Thornton were reviewing the state of the cathedral.

(The Nelson Mail, Friday 9 February 2018)

Dam offer launch reveals cost rise

The long-awaited launch of the Waimea Irrigators Ltd prospectus for the proposed Waimea dam has come with a $5.7 million hike in the estimated capital cost of the project.

Waimea Irrigators Ltd (WIL) and Tasman District Council are proposed joint-venture partners in the multimillion-dollar proposed dam, earmarked to be built in the Lee Valley, near Nelson. The project is tipped to be funded by a mix of ratepayer, irrigator and Crown funding.

WIL aims to raise a $16.5m chunk of equity via the sale of water shares. Its offer for those shares is outlined in a product disclosure statement (PDS) that was launched yesterday. Product disclosure statements have replaced older forms of financial product disclosure information such as investment statements and prospectuses.

The capital cost for the dam still to be funded is listed as $81.6m in the WIL product disclosure statement, which is $5.7m higher than the $75.9m estimate used in earlier dam documentation including the council’s statement of proposal that it put out for public consultation in October.

WIL director and orchardist Julian Raine said the launch of the PDS was a "momentous occasion" for irrigators and the citizens of Tasman district and Nelson city.

The proposed dam would "assure us for water for at least 100 years".

(The Nelson Mail, Saturday 10 February 2018)

Thought for the Week

It is the ability to take a joke, not make one, that proves you have a sense of humour.

(Max Eastman)