News and Publications

Property News: 18 November 2019

Big rebuild part of securing Salisbury School’s future

It was threatened with closure two years ago, but now the country’s only single-sex residential school for girls with intellectual disabilities is to be entirely rebuilt.

Education Minister Chris Hipkins announced yesterday that Richmond’s Salisbury School would undergo an $8 million overhaul to guarantee its longterm future.

The school’s residential and ancillary buildings will be demolished or removed, along with its administration block and day school. They will be replaced with new residential units and an administration block, a multipurpose hall, and a dining facility and kitchen.

A new day school will also be built as part of the project, which is expected to begin in 2021.

(The Nelson Mail, Wednesday 13 November 2019)

Restaurants on the menu for new building

Sal’s Authentic New York Pizza, Mexican eatery Zambrero and Japanese restaurant Aki Kitchen are to set up shop in a new building under construction in central Richmond.

It is the final stage of the four-stage Upper Queen development by Nelson-based family business Gibbons.

The development, between Queen and Talbot streets, started in 2013 with a block of stores including anchor tenant Kmart. Other tenants in the Upper Queen development include The Warehouse, Coupland’s Bakeries, Columbus Coffee, and Bed Bath & Beyond. There are also some non-retail businesses in the two-storey buildings of stages two and three.

(The Nelson Mail, Saturday 16 November 2019)

More growth in house sales, prices

The top of the south has joined the regions experiencing an increase in median house prices, according to figures released this week.

Median house prices across New Zealand increased by 8.2 per cent in October to a new record high of $607,500, up from $561,500 in October 2018.

It is the first time the median house price for the country has crept over the $600,000 mark, according to the latest data from the Real Estate Institute of New Zealand (REINZ).

Residential property data for October 2019 showed Nelson City’s median house price rising by 11 per cent in the last 12 months, from $518,000 to $575,000, and up 2.7 per cent since September.

The number of houses sold in Nelson over the past month increased 50.8 per cent, from 65 to 98.

Tasman District experienced a 1.6 per cent annual increase in its median price, climbing to $620,000 from $610,000 in October 2018. However, this was down on the $630,000 median price recorded for September 2019.

(The Nelson Mail, Saturday 16 November 2019)

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