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Duke & Cooke Property News |
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Published on: 3rd August 2009 MORTGAGEE SALES JUMP MORTGAGEE SALES JUMPNelson has seen a sudden jump in mortgagee sales. Data released today by Terralink International shows that the region had five mortgagee sales in May, compared with none the previous month and none in May last year. Real Estate Institute Nelson Marlborough president Vaughan Borcovsky said it was "most unusual" for the region to record five mortgagee sales in one month. He could not explain the increase, but did not expect to see it continue. (The Nelson Mail, Monday 27 July 2009) SOUNDS SALE WILL BENEFIT TASMAN BAYNelson-based Sealord plans to develop more aquaculture in Tasman Bay with some of the proceeds from its $23.4 million sale of marine farms in the Marlborough Sounds to seafood company Sanford. Sealord is selling a package of marine farms to the Auckland-based Sanford, which includes about 240 hectares of water space and equipment for growing mussels and spat. The deal is the largest single purchase of water space for marine farming in New Zealand and is expected to be settled within 10 days. Sealord said the sale of its farms throughout the Pelorus, Kenepuru and Port Underwood areas of the Marlborough Sounds freed up capital for investment in other areas. It would concentrate on developing its mussel-farm holdings in Tasman Bay and in the Coromandel. Sealord chief executive Graham Stuart said Sealord was still optimistic about the mussel industry, but it was "running down" in Marlborough and building up its operations in Tasman Bay, which were closer to its Nelson processing plant, and in the Coromandel. Marine Farming Association president Rob Pooley said "without a doubt" it was the largest ever purchase of water space for marine farming. Mr Pooley said Nelson people should "embrace and support" the development of aquaculture in Tasman Bay, as "quite clearly they (Sealord) will be targeting Nelson as a base". (The Nelson Mail, Tuesday 28 July 2009) MAPUA SITE DEEMED SAFEBut Smith says soil is far from perfect The former Fruitgrowers Chemical Company site in Mapua is safe for community use, but the land will "never be perfect", with toxins in the soil, groundwater and marine sediment needing further monitoring. Environment Minister Nick Smith, who released the final audit report to Mapua residents yesterday afternoon, said the site posed no risk to human health and was fit to be developed for commercial, residential and open-space use. Key points - The site is fit for commercial, residential and open-space use. - The Tasman District Council has been granted $455,000 to meet continuing monitoring costs for the site. - Additional groundwater monitoring wells will be installed. - Groundwater under, and flowing from, the site contains contaminants like DDX and dieldrin and is unsuitable for drinking. - Sediment and snail monitoring will continue. - Recontamination of backfill marine sediment occurred during the cleanup. - There is a chance ammonia gas will be generated from the treated soil. (The Nelson Mail, Saturday 1 August 2009) PROPERTY WATCHSmell the coffee Zumo, a coffee house and roastery, is due to open this month at the former Value Vehicles site in Rutherford St. Owner Dan Slattery said it would offer organic, fairtrade and rainforest alliance coffees, all roasted on-site in a large commercial coffee roaster imported from Turkey. Mr Slattery has a background in food technology and the fishing industry. He said Zumo's focus would be on the coffee itself, but the camaraderie of enjoying coffee together was "equally important". There would be indoor and outdoor seating, as well as a "boardroom" for semi-formal business meetings that required neutral territory, he said. Customer parking will be from a Vanguard St entrance. Quick house sale A "solid, well presented" three-bedroom 1960's stucco home at 183 Hill St, Richmond attracted four cash offers and sold within three days last week. Ray White agent Brent Palmer said he listed the home online on Monday and had four offers by Wednesday night. "I knew the property would be popular. However, I had no idea it would be as hot as it was." It sold for more than $40,000 above its $310,000 RV. Three buyers who missed out were still "very keen" to purchase in Richmond, Mr Palmer said. Carpet firm shifting Carpet Court is set to move from its Collingwood St premises into a new store that forms part of the Harvey Norman building in St Vincent St. Keith Palmer, chief executive of Wakatu Incorporation, which owns the property, said a couple of prospective tenants ended up competing for the site. Some modifications would now be carried out to enable Carpet Court to start operating from the site in about two months, he said. More sales in Stoke A two-year-old executive home at 40 Covent Dr, Stoke, with an RV of $465,000 sold under the hammer for $494,000 at a Harcourts auction this week. Another property at 13 Fell Place, Stoke sold before the auction, while four other properties attracted few public bids. One of them, the Golden Links Hall in Vanguard St, which has housed the Independent Order of Oddfellows for the past 40 years, was passed in at $220,000. Auctioneer Mike Rollo said it went under conditional contract immediately afterwards for a higher price. Its RV is $250,000. Mr Rollo told dozens of people attending the auction that 506 properties sold in Nelson city during the first six months of this year, compared with 414 in the same period last year. Bakery on the move The former Cake Shop and Cafe in Bridge St has been leased to the Tasty Tucker Bakery that operates across the road. Owner Tetseyha Hy said the new store was bigger and would allow room for customers to sit. He said he had been operating from the existing premises for more than seven years and would be shifting "as soon as I can". Summit commercial manager Wayne Lloyd said two others were also keen to sign up the lease. "It's amazing how some shops attract interest." Show home sells A David Reid Homes show home in Galeo Estate at Appleby has sold. The four-bedroom plus office home at 55 Redvale Rd has an RV of $915,000 and had been on the market since last year. Ray White Stoke principal Christine Cook declined to say what it sold for or whether the price was above RV. The sale was negotiated after the property was passed in at auction last month. She said David Reid Homes was about to open a second show home at Galeo Estate and interest in the subdivision had been picking up. (The Nelson Mail, Saturday 1 August 2009) DID YOU KNOW?The Duke & Cooke range of services includes market valuations of retail, office and industrial property. THOUGHT FOR THE WEEKYou are growing up when you stop asking where you came from and start asking where you are going. |
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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 |