Duke & Cooke

Duke & Cooke Property News
Property News from the Nelson Tasman Region

Published on: 27th September 2008

ON TRACK FOR ANOTHER HALF CENTURY
CHILDCARE CENTRE PLANNED
DRAG-RACERS SOOTHE OTHER AIRPORT USERS
SPLIT OVER LAKE MATIRI HYDRO PLAN
COURTHOUSE UPGRADE BACK ON TRACK
CYBER AND CAFÉ CHURCHES THE WAY OF THE FUTURE
DAYCARE CENTRE PLAN CAUSES UPSET
PROPERTY WATCH

ON TRACK FOR ANOTHER HALF CENTURY

A group that has chugged along for decades celebrated its 50-year anniversary at the weekend with all the bells and whistles. Model train enthusiasts from around the South Island flocked to Tahunanui on Saturday for the Nelson Society of Modellers’ 50th birthday. The Nelson society had raised between $40,000 and $50,000 through sponsorship and fundraising to improve the area in Tahunanui and extend the model train tracks to what was now a total of about 2.5km. “It’s been a two-year project leading up to this,” Mr Gibbs said. 

The Nelson Mail, Monday 22 September 2008
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CHILDCARE CENTRE PLANNED

A Rai Valley man behind two existing childcare developments in the Nelson region is proposing another one catering for up to 75 children in a small, residential street near Nelson’s Botanical Reserve. The idea has alarmed some neighbouring property owners, who have called a meeting this Thursday to discuss the plans. SVS Land has applied to Nelson City Council for resource consent to construct the centre on 1346sq m of land on the corner of Hardy St East and Pitt St, a property that currently contains a fire-damaged villa.

The Nelson Mail, Tuesday 23 September 2008
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DRAG-RACERS SOOTHE OTHER AIRPORT USERS

The drags may yet roar at Motueka Aerodrome this summer. The Nelson Drag Racing Association and a group of airport users signed a memorandum of understanding on Friday that sets out terms under which the airport users will not oppose the association’s application to the Tasman District Council to renew its licence to hold races at the airstrip.

The Nelson Mail, Tuesday 23 September 2008
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SPLIT OVER LAKE MATIRI HYDRO PLAN

A Motueka-based company’s application to build a hydroelectric scheme on Lake Matiri near Murchison has attracted 255 submissions, most of which support the scheme, although kayakers and environmentalists remain critical of the proposal. New Zealand Energy Ltd has applied to the Tasman District Council to build a 4.6kw power scheme at the lake, which is on conservation land at the southern entrance to Kahurangi National Park. The scheme would generate enough electricity to supply Murchison. The scheme would see a weir – built at one of the lake’s outlets – divert up to 6.3 cubic metres of water a second into a 2.2km pipe to a powerhouse, form where it would be returned to the river.

The Nelson Mail, Wednesday 24 September 2008
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COURTHOUSE UPGRADE BACK ON TRACK

Prime Minister Helen Clark was expected to announce today that a major expansion of Nelson’s cramped courthouse was back on track, with the Government committing more than $10 million for the project. Plans for a $10.3 million refurbishment were originally unveiled by Minister of Courts Rick Barker in September last year. But in April, the Justice Ministry announced it was putting the project on hold, giving priority to three other courthouse upgrades instead. With the project now back on track, tenders would be called for the main contract, with work due to begin next March, Mr Barker said. It was expected to be completed by late 2010.

The Nelson Mail, Thursday 25 September 2008
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CYBER AND CAFÉ CHURCHES THE WAY OF THE FUTURE

The Anglican Church hopes to build a visitor’s centre at Nelson’s Christ Church Cathedral and needs to consider making radical changes, such as creating churches on the Internet and in cafes, to ensure its future, says the Bishop of Nelson. The Rt Rev Richard Ellena yesterday spoke of his ideas at the Anglican Diocese of Nelson Synod, and also told the Nelson Mail of Plans for a new development at the cathedral. He said that while Nelson had the second-most-visited cathedral in New Zealand after Christchurch, it lacked a visitors’ centre where people could gather for information, company or simply “a cup of tea”. The project was still in its early stages and no fundraising plan had been formed, but the cathedral was working with iwi on its plans and hoped to be in a position to launch the project early next year.

The Nelson Mail, Friday 26 September 2008
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DAYCARE CENTRE PLAN CAUSES UPSET

The Rai Valley man behind a proposed childcare centre that has alarmed some Nelson east residents says the last thing he wants to do is upset the local community. Chris Thornley is a director of SVS Land, which has sought resource consent to establish a purpose-built centre catering for up to 75 children on the corner of Hardy St East and Pitt St, near the Nelson Botanical Reserve. Concerned neighbours held a meeting on Thursday night to discuss the development.

The Nelson Mail, Saturday 27 September 2008
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PROPERTY WATCH

Reality starts to bite
Reality has finally started to take hold of the commercial property market, Duke and Cooke investment property specialist Murray Lauchlan says in his firm’s latest newsletter. “Investors, we suspect, have taken off their rose-tinted glasses and have started to consider the fundamental drivers behind their investment decisions to determine their required yields. The current environment would certainly suggest rental growth is going to be minimal for the next few years, and the cost of capital is unlikely to decline much in the short term.” Mr Lauchlan said commercial sales activity remained low because property owners preferred to ride out a downturn if there was no need to sell. “Those wanting to get into the commercial property market will find it difficult to source sound investment properties, and so a continuation of under-supply and over-demand will remain.”

Showhome sells quickly
An award-winning Inhaus showhome at 2 Sequoia Way, Stoke has been sold through Haven Realty agent Craig Hamilton within two weeks of being listed. The four-bedroom home was priced at offers over its GV of $630,000. Mr Hamilton said about 60 groups went through during two days of open homes and two offers were received, with the asking price being achieved. He attributed the high level of interest and quick sale to the home’s quality and “premium marketing”.


Coastal properties sold
Bayleys agents Daniel Reed and Rebecca Kristoffersen – now working as a team – have sold three $500,000-plus coastal Tasman district properties within a month. The properties were a renovated three-bedroom waterfront villa at 26 Toru St, Mapua priced at $560,000, an architecturally designed three-bedroom home on a 2500sq m elevated property at 6 Joseph Senior Way, Ruby Bay, which was seeking offers over $660,000, and a four-bedroom brick home on a 6528sq m property at 9 Dawson Rd, Mapua advertised for $670,000. Mr Reed said the Toru St property attracted multiple offers, the Joseph Senior Way property sold within 10 days and the Dawson Rd property sold within three weeks. He would not reveal sale prices but said they all went for “well above” GV.


Ex-gallery site leased
The former Seachel Gallery premises on the ground floor of the Latitude 41 apartment building on Wakefield Quay, Nelson have been leased through Harcourts commercial agent Neil Hodgson. He said the new tenants didn’t want to be identified yet, although he was able to reveal that a “market-leading renovation and alterations franchise” would be operating from the site from October 31. It had been vacant for eight to 12 months since the gallery closed, he said. “The biggest issue has been with finding a tenant that doesn’t rely on high volumes of foot traffic.”


Spec home snapped up
A new three-bedroom spec home in Suffolk Rd, Stoke that was advertised on the front page of the Property Weekly a fortnight ago for $515,000 sold to an out-of-town buyer who viewed it that weekend and bought it on Monday. Ray White Stoke principal Christine Cook said that sort of result was a “rarity” in any market. She wouldn’t reveal the price, other than to say both the vendor and buyer were happy.

The Nelson Mail, Saturday 27 September 2008
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This publication is compiled by Duke & Cooke Ltd, valuation and property specialists. The information contained within this newssheet has been obtained from various local sources and no responsibility is held for any parties relying on the accuracy of this information without obtaining independent verification.

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