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Duke & Cooke Property News |
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Published on: 15th June 2009 HUB OF FOOD OUTLETS PLANNED HUB OF FOOD OUTLETS PLANNEDA drive-through McDonald's restaurant and a Robbie's Bar & Bistro are planned for a new multimillion-dollar food hub about to take shape on the Railway Hotel site in Richmond. The hotel is selling all its fittings and fixtures in preparation for the building to be demolished this month. It is more than 125 years old. Long-term Nelson investment company Strategic Property Group bought the site in Decemeber 2007 and has been planning a development to house Robbie's and several other tenants. McDonald's communications manager, Kate Porter, confirmed that McDonald's hoped to open a 50-seat restaurant with a McCafe and drive-through on the site. Strategic Property Group director Granville Dunstan said the decision by McDonald's to sign up to a long-term lease had enabled construction to begin. Vehicle entry to the business will be off lower Queen St. McDonald's will be sited nearest the Railway Reserve, while Robbie's Bar and Bistro will be at the other end of the development, closest to Gladstone Rd. There will be 38 car parks on the site. Robbie's Bar and Bistro will lease 392 square metres. One of four other 110sqm tenancies in the complex is under offer from a takeaway outlet, and it is hoped the remaining space or spaces will also be filled by food-related outlets, such as a dairy, butchery, bakery or liquor store. (The Nelson Mail, Monday 8 June 2009) PROPERTY VALUES CONTINUE TO SLIDE, BUT CITY BETTER OFFTasman property values are continuing to slip backwards while Nelson's rate of decline has slowed, according to the latest Quotable Value statistics. Nelson and Tasman property values are performing in line with QV's national figures, which show an 8.1 per cent decline for May - an improvement on the 9.2 per cent decline reported in April. It was the second month in a row where the year-on-year decline had slowed. Nelson April property values: 7.6 per cent May property values: 6.7 per cent Average May sale price: $333,812 Tasman April property values: 7.8 per cent May property values: 8 per cent Average May sale price: $353,790 (The Nelson Mail, Monday 8 June 2009) $15M PORT EXPANSION PLANNEDThe Tasman District Council is pushing ahead with plans for a large-scale development at Port Golden Bay costing up to $15* million that could boost the aquaculture industry and provide jobs in the region. The council is seeking proposals from consultants for the design and development of a marina and associated reclamation for Port Golden Bay (formerly Port Tarakohe) in Tarakohe Harbour. Council property manager Jim Frater said the council was looking to add an extra 150 to 180 marina berths on the western side of the harbour and to further reclaim the harbour walls. The marina would be fully serviced and could include a cafe or restaurant. Features of possible upgrade at Port Golden Bay: - Staged construction of recreation marina with up to 180 berths. - Car parking, boat storage and support services for port marina. - Water, power, data and sewerage facilities. - Dredging western inner harbour of up to 70,000 cubic metres of fill. - Extending western harbour wall and placement of fill to create 1.5 hectares of reclamation. - Possible replacement of old wooden wharf. *Wrong figure supplied A proposed redevelopment of Port Golden Bay (formerly Port Tarakohe) may cost up to $5 million. A story in Tuesday's Nelson Mail said it could cost up to $15m That figure was based on incorrect information supplied to the paper. (The Nelson Mail, Saturday 13 June 2009) (The Nelson Mail, Tuesday 9 June 2009) THEATRE SEEKING A TOP-UP'Future-proofing' needed Nelson's historic Theatre Royal is seeking a further $2 million to help future-proof it with better features and "turn the house into a home". Bridging funds are needed to start important final engineering works for the theatre, which is undergoing a $4.4 million redevelopment, and further funds are needed for finishing touches to enable the theatre to be a fully functional community theatre as soon as it reopens next year, members of the trust governing its overhaul told city councillors this week. They made a submission seeking funding during the council's draft plan hearings. (The Nelson Mail, Wednesday 10 June 2009) BUILDING GETS A GREEN STAR FOR SUSTAINABILITYA toilet that uses recycled water is one of several features in a prominent new Waimea Rd building that's been developed with sustainability in mind. The new home of Daines and Associates Architects and Guy Herschell Architects is believed to be the first commercial building in the region that has been planned and developed in accordance with the New Zealand Green Star Building rating system. It is set to be officially opened by Nelson MP and Environment Minister Nick Smith this Friday. The building has its own self-contained water supply. This involves a rainwater collection system, pump filter and UV treatment costing between $6000 and $7000 and producing savings of up to $600 a year. There's also a 'deliberately over-sized' solar-panel system to provide most hot-water needs right through winter and only one power supply for the entire builiding rather than individual connections for each tenancy. "That saves us about $6 to $8 per day." The building is double glazed and designed to capture the natural light and use natural ventilation. It has been painted with "green tick products" and the floor coverings are recyclable carpet tiles from the United States. One of the more unusual additions is a toilet with a hand basin on its cistern. The tap starts automatically when the toilet is flushed, allowing waste hand wash water to be recycled into the next flush. Mr Daines estimates it has cost him about 15 to 18 per cent more to incorporate green principles than it would have cost had the building been built to minimum building-standard requirements. "There's a lot of features that we've built in here that I think will be standard, run-of-the-mill things in 10 to 15 years time." Mr Daines intends to apply for a Green Star Building rating once the building is fully tenanted. (The Nelson Mail, Wednesday 10 June 2009) MEDICAL CENTRE GRANTED CONSENTThe Golden Bay Medical Centre Trust has been granted resource consent by the Tasman District Council to build a new medical centre in Takaka, on Rototai Rd, opposite the Golden Bay High School. Trust chairman Harry Holmwood said provisional plans had already been drawn up for the new centre, which would be twice the size of the current building. He said the trust would now begin negotiations with the council for the proceeds from the proposed sale of the exisiting medical centre building to go towards the building of the new facility. Because there were no objections from neighbours, it was an unnotified consent. (The Nelson Mail, Wednesday 10 June 2009) COUNCIL SAVINGS HELP CUT RATES BILLTasman prunes projects, saves on interest rate Tasman district ratepayers won't be digging into their pockets as much as they thought for the coming financial year. Councillors yesterday pruned back projects to be included in Tasman District Council's 10-year plan, trimming the initial general rate projection of a 4.96 per cent rise to 3.9 per cent for the 2009-10 year. The projected average annual general rate has also reduced slightly from a 4.32 per cent rise to 4.2 per cent over the next 10 years, mainly a result of the council swapping its interest rate from 7.9 per cent to a long-term fixed rate of 7.2 per cent, said chief executive Paul Wylie. (The Nelson Mail, Thursday 11 June 2009) WATERSPORT COURSE CASH PULLEDOpponents of the proposed Rabbit Island watersport course can breathe a sigh of relief, with the Tasman District Council yesterday deciding to pull funding for the contentious proposal. Their victory may be fleeting, however, with councillors expressing support for the proposal and allowing room for funding to be allocated in the future. The council set aside $3.1 million in its draft 10-year plan for the proposed course, and received about 160 submissions in support of the plan and 64 against it. After long debates, councillors had decided that a "clearer intention" would be demonstrated by taking the sum out of the budget, Tasman Mayor Richard Kempthorne said. Funding for the proposal was included in the council's 2012-14 budget. Although councillors agreed to can the funding, they agreed to support the concept. (The Nelson Mail, Thursday 11 June 2009) WINS FOR RECYCLING, TENANTSFull recycling is to continue in Nelson city and will be broadened slightly, while the council's community housing tenants have won their fight to prevent a rent increase. These are among the preliminary decisions made by city councillors yesterday after considering public submissions to the long term community plan. A move to raise the rent on 142 community houses in Nelson sparked early opposition from tenants. The council planned to increase rent on community housing from 25 per cent to 30 per cent of superannuation, which equated to an increase from $70 to $77 a week for a single occupant. The weekly rent for a double unit in Nelson is $109.95. (The Nelson Mail, Thursday 11 June 2009) LARGE-SCALE OYSTER FARMING POSSIBLEThe Cawthron Institute hopes its latest aquaculture development will open the door to large-scale oyster farming in New Zealand. The institute officially opened the country's first large-scale oyster nursery at its Glenhaven Aquaculture Centre north of Nelson yesterday. (The Nelson Mail, Thursday 11 June 2009) HOUSING MARKET OPINIONS DIVIDEDMore Nelson-Tasman houses are selling and the median price is also rising, but economists are divided over whether the housing market is stabilising. Real Estate Institute figures show 154 houses sold in Nelson-Tasman during May, an 8.4 per cent increase on the previous month and 45 per cent up on the same month last year. The median house price also increased to $346,250 compared with $320,500 in April and $335,000 last May. (The Nelson Mail, Friday 12 June 2009) CHEAPER ARTS CENTRE PLANNEDCity council rejects joint venture and will seek public comment A reduced-cost performing arts and conference centre is still in Nelson's community plan, but the city council will no longer be seeking a public-private partnership to develop the multimillion-dollar venue. Council chief executive Keith Marshall said at the end of yesterday's third day of deliberations on the city's long-term plan that the council had decided to look at ways to deliver a $28 million performing arts and conference centre on the Rutherford St-Selwyn Place site earmarked last year. Councillors voted 9:1 for the revised plan. Councillor Ian Barker did not support it, and councillors Rachel Reese, Aldo Miccio and Denise Henigan were absent. Auckland design and management firm Beca, which late last year secured the project management job for the proposed centre, will be asked to develop a design in brief for the revised concept, to go out for public consultation. The council has been saying for some time that its estimated contribution to the initial idea of a partnership would be up to $32.4m. It provided $5m in the 2009-10 budget to cover the site purchase, project management, finalising an agreement with a partner and starting detailed design work and costings. (The Nelson Mail, Saturday 13 June 2009) PROPERTY WATCHOIC approves deal The Overseas Investment Commission has granted permission for the predominantly United States-owned company, Woollaston Estate Holdings, to purchase 10 hectares of land at 513 Main Rd, Hope, from Phillip Woollaston for $1.08 million. Mr Woollaston is also a substantial shareholder in Woollaston Estate Holdings and chief executive of Woollaston Estates. He said the land was part of the old Heatherbell's orchard. "When it came on the market some time ago, I bought it with the intention of selling it to the company - and the company's agreement to buy it - when OIC approval was gained. This has now happened. It has been a fairly slow process." Tasman District Council records show the property has an RV of $1.185m and Quotable Value records show it sold a year ago for $1.11m. Mr Woollaston said the purchase was part of a planned expansion in Woollaston Estate's sauvignon blanc production and had already been planted in vines. American businessman Glenn Schaeffer is the majority shareholder in Woollaston Estate Holdings. Flats sell again A block of four one-bedroom flats at 237 Hampden St, Nelson, has sold for the second time in less than a year. Ray White agent Bruce Hardie said the property was on the market for about four weeks and attracted three offers, mainly from local landlords. "It achieved a higher price this time round than the vendor paid less than a year ago." The property has an RV of $300,000 and sold for $355,000 last October, according to QV records. Each flat is let at $155 a week. Mr Hardie said the previous owner's plans changed and the new owner bought the flats as a "long-term holding". Solid buyer support Two properties in the higher price bracket, both with views of Nelson's The Cut, have sold after attracting solid buyer interest. One, a 1950s bungalow at 63 Fifeshire Crescent, was due to go to auction this week but sold through Haven Realty agent Jeff Rackley. He said 38 groups visited it over two weekends, resulting in three interested parties. The property has an RV of $840,000 and Mr Rackley said the price achieved was "slightly less" than that. Meanwhile, Bayleys agent Bruce Farquhar received four offers on a modern home at 9 Harbour Tce that was originally the subject of a deadline sale and later marketed for $1.35 million. The property has an RV of $962,000 and Mr Farquhar said the sale exceeded this. Buyers in market The sale of an industrial building at 18 Tokomaru Pl, Stoke, shows buyers are starting to move on investments that provide better percentage returns than banks, Summit Commercial agent Bevan Dixon says. The property, with two tenants, had been on the market three months and was purchased last month by a former New Zealander living in Australia. The return was 7.8 per cent compared with bank interest rates of about 3.5 per cent, Mr Dixon said. Valuation offer Ray White agent Grant Chaney, the franchise's top-selling salesperson in the South Island, is offering clients a free registered valuation on their property. "It's hard for vendors to get a grip on what property is worth." The RV was not a true indication because it did not involve someone inspecting the property, he said. "I sold a property last week which had an RV of $475,000 and it sold for $559,000. Independent registered valuations were also handy when negotiating a price, he said. Mr Chaney has formed a relationship with Property Action to offer the service. (The Nelson Mail, Saturday 13 June 2009) DID YOU KNOW?The Duke & Cooke range of services includes market valuations of rural, lifestyle, dairy, pastoral, orchards, vineyards, forestry, marine and all types of productive property. |
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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 |