|
|
Duke & Cooke Property News |
|
Published on: 28th September 2009 MAORI PACKAGE VALUE DELAYED MAORI PACKAGE VALUE DELAYEDThe combined worth of the 140-plus crown properties identified in the Te Tau Ihu redress package will not be revealed until transfer values are agreed between claimant groups and government departments, says an Office of Treaty Settlements spokesman. Several key central Nelson sites, including land on which the police station, courthouse and some schools sit, will be offered to Maori in the top of the South Island as part of a treaty settlements package. Among more than 140 properties, 73 crown agency sites are to be made available for sale and leaseback. However, the site beneath the Monro Building in Bridge St, illustrated in The Nelson Mail on Saturday, was privately owned and not part of the crown land package, said Lindsay Hay, manager and shareholder of the syndicate which bought the property off the Nelson City Council in 2003. There was a Waitangi Tribunal Memorial on the title, which allowed it to be compulsorily repurchased by the Crown if the Waitangi Tribunal recommended its return to Maori, but it would have to have a strong case, Mr Hay said. Office of Treaty Settlements deputy director Peter Galvin said where a claimant group sought a property held by government departments and agencies and was deemed not surplus, one option was to consider the site for sale and leaseback redress. Land beneath Auckland Point School has been identified as among that of the more than 20 schools in the Nelson area. It is also stands to be controversial because Wakatu Incorporation claims it should have title to it, and is opposed to it being passed to a third party. (The Nelson Mail, Monday 21 September 2009) AIRPORT HANGAR OFFICIALLY ALL GOIt's been a long time coming, but the ground was officially broken on Saturday to mark the start of construction of Air Nelson’s new engineering and maintenance hangar at Nelson Airport. Nelson Mayor Kerry Marshall, Tasman Mayor Richard Kempthorne and Air Nelson general manager Grant Kerr shunned the traditional spade in favour of synchronised diggers to turn the first sod and officially declare construction started. The $ 12 million investment will see a new office administration block and the new hangar built to replace the existing 1942 hangar, which Air Nelson has leased from Nelson Airport since 1989. Sixty metres long, 80m wide and 15m high, it will be able to accommodate five Q300 aircraft at once and, according to Mr Kerr, ‘‘a Boeing 747 except for its fuselage sticking out the back’’. It will be completed and operational by June 2010. (The Nelson Mail, Monday 21 September 2009) BUSINESS GETS MORE SPACEThe Tasman District Council has paved the way for major light-industry and business expansion, rezoning more than 230 hectares for development in Richmond west. The significant decision is part of a plan change which maps out the urban shape that 290 ha of prime, rural one land will take on in the next 50 years. The council’s decision, made under its resource management plan, is substantially different from the one mapped out in a draft proposal two years ago. Residential zoning has been cut from 122 ha to 60ha, while land for mixed business has been increased from an initial 82ha to 121ha. This zoning will push business closer to the Waimea Estuary margin, southeast of Headingly Lane. About 100ha of land, 40ha more than first suggested, has been zoned for light industrial businesses. All the zoning changes are deferred until major infrastructure works are completed. Richmond West's 50-year plan - 590 new residential sections. - 442 mixed business sites. - 536 light-industrial lots. - A greenway along Borck Creek for drainage, cycle and walkways. - Residential property frontages on Lower Queen St and McShane Rd to be bought for road widening. (The Nelson Mail, Friday 25 September 2009) BATTLE TO PROTECT BAY REST HOMEA proposal to save Golden Bay’s only rest home from closure will be put forward by a group of ‘‘prominent local businessmen’’ at a private meeting of the home’s board of trustees next Thursday. But if the trustees of Collingwood’s Joan Whiting Rest Home opt to remain at their present site, this will delay community consultation on plans for a new integrated health care facility in Golden Bay, says Integrated Management Group chairman John Peters. The 17-bed home run by the Joan Whiting Memorial Trust has been full for the past 19 months but suffered a heavy financial loss of almost $57,000 last year. A deficit of $130,000 is forecast this year without assistance from the Nelson Marlborough District Health Board. (The Nelson Mail, Friday 25 September 2009) PROPERTY WATCHKFC work delayed Restaurant Brands, the company behind KFC, has put plans to rebuild its Tahunanui outlet on hold. Marketing commercial manager Viv Rosenberg said the tender process had been delayed because Nelson construction companies were so busy. ‘‘We are absolutely committed to rebuilding the site in Nelson,’’ she said. Restaurant Brands has 84 KFC stores nationwide, with Whakatane recently becoming the 36th to reopen in the ‘‘new format’’. Most of the previous rebuilds have cost more than $1 million and outlets have been closed for six to eight weeks. ‘‘It’s well worth the wait because the result is absolutely wonderful,’’ Ms Rosenberg said. Nelson drops in ranking Tauranga has jumped ahead of Nelson as the area of highest investor confidence in New Zealand, according to the latest quarterly commercial real estate confidence survey from Colliers International. It shows Tauranga/Mt Maunganui is the first region in New Zealand where confidence is running above 0 per cent. Investors in all other regions, including Nelson, remain in the negatives. Colliers International research director Alan McMahon said investors in all sectors were taking heart from positive news in the wider community. ‘‘Although commercial property values have fallen in the last year across the country, investors are feeling that the worst is over and although rents are unlikely to grow much in the near term, markets are at least stabilising.’’ Median rents decline Nelson was one of a handful of regions around the country to experience what Massey University has described as a ‘‘significant decrease’’ in property rents during the August quarter. Its median rent for this period was $285 compared with $295 in the May quarter and $292 in the August quarter last year, according to research compiled by the university’s real estate analysis unit. Auckland’s North Shore had New Zealand’s highest median rent, $375 a week, while Wanganui had the lowest at $185 a week. (The Nelson Mail, Saturday 26 September 2009) DID YOU KNOW?Duke & Cooke independent valuations can be used for market rental assessments. THOUGHT FOR THE WEEKIf you choke a Smurf, what colour does it turn? |
|
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 |