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Duke & Cooke Property News |
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Published on: 4th May 2009 ECO HOUSING PLAN GAINS COUNCIL SUPPORT ECO HOUSING PLAN GAINS COUNCIL SUPPORTA plan by the Nelson Tasman Housing Trust to build medium to high-density community housing on Nelson City Council land in the Brook Valley is a step closer, now that the council has agreed to support the idea in principle. The trust has asked the council if it can buy or lease at reduced rates a portion of the OK Corral site for development of "low-cost, high-standard eco houses" for the community housing development. The council's community services committee agreed at its meeting last week to support the proposal in principle, subject to more detailed information. The affordable rental housing proposal comprises up to 12 two and three-bedroom houses on a 0.4 hectare portion of the Brook Valley site. Mr Preston said the trust was considering building nine low-cost homes on the site. (The Nelson Mail, Tuesday 28 April 2009) RECESSION HITS COMMERCIAL RENTSA Nelson valuation firm says landlords are agreeing to forgo rent reviews as "change and uncertainty" hits the commercial property market. Duke and Cooke valuer Murray Lauchlan reports in his firm's latest newsletter that the business downturn "hit so suddenly and hard" after a long period of strong growth in all sectors of Nelson's commercial property market. "Many landlords are already agreeing to forgo rental reviews for the sake of maintaining cashflows." He said tenants were likely to move from substandard to more modern accommodation as existing leases expire, causing a "two-tier" market to emerge. "We envisage there could be a fall-off in second-tier property rental levels driven by higher vacancy levels, while modern prime space should maintain current levels. (The Nelson Mail, Thursday 30 April 2009) NATIONAL PARK TRACK OPEN TO CYCLISTSMountainbikers will have a new option in Abel Tasman National Park from tomorrow. The 10-kilometre-long Gibbs Hill track at the northern end of the park will be open to mountainbikers during the winter months only, from May 1 until October 1. It is the first Nelson national park track to be opened to mountainbikers, in addition to "legal roads", such as the Rameka track in the Abel Tasman and the Kildevil track in Kahurangi National Park. DOC Golden Bay area manager John Mason said mountainbikers could just ride the 10km Gibbs Hill track or make a 23km round-trip by also cycling the roads between Wainui and Totaranui. (The Nelson Mail, Thursday 30 April 2009) NO DECISION YET ON RUBY BAY WALL FUNDINGThe Tasman District Council is yet to announce what proportion of the $1.5 million set aside for a Ruby Bay erosion protection wall is to be paid for by ratepayers. The rock wall is designed to halt the erosion of the Old Mill walkway between Mapua and Ruby Bay, and will stretch for 510 metres. A hearing on the proposal was conducted by an independent commissioner in late March for the council to gain consent for the wall. The proposal is now awaiting the final go-ahead from Conservation Minister Tom Groser. (The Nelson Mail, Thursday 30 April 2009) RIDGEWAY LINK WORK GETS UNDERWAYWork has begun on a long-planned $1.3 million project that includes linking the Ridgeway Road in Stoke with the Ridgeway South. Nelson City Council project engineer Phil Hamblin said a roundabout would be constructed at the top end of Songer St where the Ridgeway extension begins. The project has been on the council's agenda since 1997 but faced considerable delays. For the past five years the council has been working to protect a heritage tree in the road's path. Nelson contractors Adcock and Donaldson are completing the work. The project is expected to be complete by early August, dependant on the weather. (The Nelson Mail, Friday 1 May 2009) COURTHOUSE CONTRACT AWARDEDMainzeal Property and Construction Ltd has been awarded the building contract for the $10.3 million Nelson courthouse redevelopment. Philip Maitland, Ministry of Justice general manager finance and support services, said construction was scheduled to begin this month and was expected to be completed by late 2010. The project includes extending the existing Bridge St courthouse to twice its size and refurbishing the interior. Three new courtrooms will be built and there will be increased administration and public waiting areas. (The Nelson Mail, Friday 1 May 2009) PROPERTY WATCHTruck depot consent Stuart Drummond Transport has gained consent to establish a truck depot on about 1ha of land on the corner of Swamp Rd and Lower Queen St in Richmond. An office, workshop, truck wash and parking up for up to 30 trucks is planned for the site. The company's resource consent application attracted 11 submissions which included concerns about the loss of productive land, traffic safety, pollution and noise. The Tasman District Council's environment and planning sub committee ruled the proposal was appropriate for the area although it imposed a large number of conditions. Sales before auction A four-bedroom home designed by David Jerram at 4 Whitehead Drive, Atawhai, was due to be auctioned by Harcourts on May 13 but sold after more than 40 inspections in less than two weeks. Auction manager Mike Rollo said it fetched higher than its rateable value of $700,000. Another property at 23 Jellicoe Ave, Stoke, also sold prior to its auction last week, attracting three offers a day after hitting the markets. Its RV is $290,000 and it sold for $343,500. "Every auction, we're getting a pre-sale. That shows the market is picking up which is great." Mr Rollo said four buyers placed a total of 30 bids on a three bedroom home at 27 Green St, Tahunanui, before it sold under the hammer for $324,000. Its RV is $295,000. Meanwhile, a category one historic home at 170 Milton St has been signed up conditionally after being passed in at auction for $830,000. March sales better Motueka and Nelson were the stand-out performers in the Real Estate Institute's March sale statistics. There were 109 properties sold in Nelson which was 55 per cent more than the same month last year and 26 per cent more than February. The average days to sell reduced from 62 in February to 40. Motueka had 28 property sales in March - a 64 per cent increase from February and a 55 per cent increase on the same month last year. Average days to sell drifted out slightly from 54 to 55. Summit Real Estate Motueka manager Christine Jackson said most of its sales were in the $200,000 to $350,000 price bracket. "We've certainly had a good run of those. There's a lot of active first home and investor buyers." Steiner expands Motueka's Rudolf Steiner Kindergarten will tomorrow officially open its expanded building which doubles the centre's capacity to cater for up to 40 children. Trust chairman Peter Garlick said the kindergarten had operated from its Wallace St site for 18 years and purchased the building next door in 2007. It took 20 months to obtain building consent and complete a "major renovation" project. "We have been able to improve the quality of the building and bring in many beautiful features within a tight budget. This has been made possible through the generosity of local businesses and trades people, and many hundreds of hours of voluntary labour from parents." Surf shop moves Richmond surf and street wear retailer The Underground is taking on a new look in the Richmond Mall. Owner Tim Boutle said the new shop would have a more modern and contemporary feel than his previous shop because he says his customers have become noticeably more sophisticated during the nine years he's owned fashion stores in the region. He said some might question the timing of his new venture. "My own thoughts are that this is an excellent time to consider re-investment as we need to ensure that once the economic situation rebounds we are in a position to hit the ground running." The new shop is due to open on Thursday. (The Nelson Mail, Saturday 2 March 2009) |
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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. To contact us regarding circulation of this service: Phone +64 (03) 5489104, Fax +64 (03) 5468668, or email: admin@valuersnelson.co.nz |