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Duke & Cooke Property News |
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Published on: 18th November 2009 PAYOUT INCREACE PLEASES FARMERS PAYOUT INCREACE PLEASES FARMERSFonterra is lifting its forecast for the payout to dairy farmers by almost 20 per cent. Fonterra said this morning the price of milk solids would increase $ 1.10 to $ 5.70 per kilogram, while the distributable profit was 15 cents lower at 35 cents. This meant the co-operative’s forecast of the total amount available for payout increased 95 cents to $6.05 per kg ms, Fonterra said. Nelson Federated Farmers dairy chairman Martin O’Connor said the new forecast was ‘‘magic’’. (The Nelson Mail, Monday 9 November 2009) HOUSE PRICES RISE SLIGHTLYHouse prices have risen above a year ago, driven mainly by a shortage of listings, Quotable Value figures show. In Nelson, values in October rose 0.6 per cent over the last year, a turnaround on the 0.5 per cent fall in September, with an average sale price last month at $357,768. Tasman values rose 0.3 per cent, improving on September’s 0.1 per cent fall, with an average October sale price of $376,453. (The Nelson Mail, Monday 9 November 2009) HOSPICE SHOP OPENS IN RICHMONDRichmond now has a new hospice shop to help raise some of the $800,000 the Nelson Region Hospice Trust needs to operate each year. The Richmond Hospice Shop opened at its premises in Queen St on Saturday morning with a cake-cutting ceremony attended by about 40 people. Nelson Region Hospice Trust chairwoman Elspeth Kennedy said there had been a demand for a hospice shop in Richmond for some time, but it was only recently that suitable premises became available. (The Nelson Mail, Monday 9 November 2009) PROPERTY VALUES INCREASENelson property owners will see an average increase of 7.3 per cent in their new three-yearly rateable values. The valuations are compiled by Quotable Value on behalf of the Nelson City Council and became effective last Friday. Neither the council nor Quotable Value would reveal the new figures this morning ahead of a council meeting on Thursday where they are due to be presented. The council would make them available on its online rates database following Thursday’s presentation, he said. QV plans to post notices to property owners on November 13 and they have until November 22 to lodge objections. (The Nelson Mail, Tuesday 10 November 2009) CONSENT FOR SANCTUARY FENCEThe Brook Waimarama Sanctuary has succeeded in gaining resource consent for a 14-kilometre predator-proof fence that will create a 700-hectare native wildlife experience close to Nelson’s city centre. It now faces the challenge of raising $4 million to build it. Trust spokesman Derek Shaw said today it had about 40 per cent of the money in pledges from individuals and the councils, and a fundraising team was being assembled to work on getting the rest. The money would need to be raised before building the fence could begin. (The Nelson Mail, Wednesday 11 November 2009) BRITISH COUPLE BUY EXCLUSIVE LODGEParatiho Farms in Upper Moutere has been purchased by a former British banking executive and his wife, who plan to reopen its exclusive lodge to paying guests. Sir Keith and Lady Whitson took over this month, having gained New Zealand residency and Overseas Investment Office approval to purchase the multimillion-dollar property, which had been on the market for several years. The lodge, which was closed last year, was sold by Sally Hunt, who developed it with her late husband Robert Hunt in the 1990s. Mrs Hunt has moved to Nelson. The couple did their research, made a conditional offer in April, flew out to see the property and completed the purchase. Sir Keith would not say how much they paid. (The Nelson Mail, Thursday 12 November 2009) FUNERAL HOME CONTINUES CONSENT BIDA contentious application seeking permission to establish a crematorium at Hope’s Gardens of the World has attracted 220 submissions. Marsden House Funeral home director Francis Day is trying for a second time to get consent for the crematorium, after his first application for the development was declined by the Tasman District Council in July. (The Nelson Mail, Thursday 12 November 2009) CAPITAL VALUES UP 6PC OVERALLSome top-end properties fall Waterfront properties have taken a dive in new Nelson city property valuations. Property owners will get their three-yearly valuation notices in the post from next week but Nelson city councillors got a briefing at their meeting yesterday. Quotable Value operations manager Brendon Bodger said high-price property values had not gone up as much as low-price ones. Waterfront properties had a real correction this year and that had happened throughout the South Island, he said. Values in the Port Hills and Monaco had reduced because they had got so high during the real estate boom. Overall, Nelson city was now worth $9.4 billion, with a 6 per cent overall rise in capital value. Nelson city rates are based on land values, which have risen 7 per cent. The average Nelson house is now worth $369,000. In central Nelson and the Wood, the average house value is up from $380,000 to $402,000; Tahunanui and the Port Hills have dropped from $488,000 to $486,000; Stoke has gone from $336,500 to $357,000; Wakatu and Annesbrook have risen from $283,000 to $304,000, Washington Valley and Abraham Heights are up from $ 240,000 to $262,000; the College, Nelson East and the Brook area are up from $408,000 to $424,000; Nelson South and Bishopdale are up from $ 264,000 to $ 281,000; Atawhai is up from $418,000 to $440,000 and Nelson North, the Glen and Cable Bay are up from $424,000 to $432,500. Commercial properties had not seen huge increases, with investment returns similar to those of 2006 and a small increase in rentals, he said. Industrial land values rose 14 per cent. Property owners will have until December 22 to object to their valuations. Mr Bodger said 1 to 1.5 per cent of property owners were objecting to the new valuations in other areas, and he expected a similar result in Nelson city. Average residential land value 2009 2006 Stoke $167,000 $154,000 Wakatu, Annesbrook $137,500 $124,000 Tahunanui, Port Hills $267,000 $270,000 Washington Valley $119,000 $106,000 Bishopdale $128,000 $116,000 College, The Brook $228,000 $212,000 The Wood $220,000 $217,000 Atawhai $198,000 $185,000 Nelson North $230,000 $225,000 (The Nelson Mail, Friday 13 November 2009) GRAVEL EXCAVATION BID ON HOLDAn application to excavate gravel from a fertile Waimea Plains farm has not only been significantly downsized, but is now on hold. A three-day hearing was scheduled to start at the Tasman District Council this coming Monday, when the council’s major roading contractor, Downer EDI Works, would seek permission to extract gravel from Eden Farm, alongside the Waimea River. However, the company has postponed the hearing date to ‘‘reassess’’ the application, which has been significantly amended since it was first submitted. (The Nelson Mail, Saturday 14 November 2009) TRUST ASSISTS COLLEGE WHARENelson College has been granted $40,000 by the Canterbury Community Trust to help build the only dedicated secondary school Maori education space in the Nelson region. The project will see the construction of a purpose-built ‘‘whare’’, which will become a centre of learning for the college’s Maori students. The school had applied for $245,000 from the trust for the $483,000 project, but deputy principal Tim Tucker said they could not be ungrateful for the contribution, even though it was much less than sought. The school had already secured $ 160,000 through the sale of school land and funding from old boys. The whare will feature a classroom, kitchen, bathroom, office and storage area. (The Nelson Mail, Saturday 14 November 2009) PROPERTY WATCHSports Cafe rebranded as another 623 Nelson’s Sports Cafe and Bar has been sold to 623 on the Rocks owner Mike Curry, who has rebranded it 623 in the City. Mr Curry purchased the business and lease this week for an undisclosed sum from the receivers for the previous owner, CEA Trading. ‘‘Obviously, because of our success in Tahuna and the demand for 623 on the Rocks, we have no other option but to continue to expand.’’ Mr Curry had the premises rebranded and refurbished within three days, opening for the first time last night. He has recruited 22 staff to work in the new restaurant bar. Mr Curry is also the owner of Amigos Restaurant in Tahunanui. Subdividable land sells well under RV A 1.7-hectare piece of land suitable for subdivision at 330 Hill St in Richmond has sold for less than its rateable value and less than a price that was put on the property three years ago. Quotable Value information shows the property, with an original-condition home on it, sold for $1.1 million in August, although the sale wasn’t settled until late last month. Summit agent Bruce Batty declined to comment on the sale. The property has an RV of $1.22m and, according to QV, it last sold in 2006 for $1.172m, although the Nelson Mail understands it’s been owned by the one family for many years. The property runs on a gentle contour from Hill St to Chelsea Ave and features extensive views from Tasman Bay to the Western Ranges. Ray White Nelson goes green Ray White’s new Nelson branch is being established in the region’s first Green Star office building on Waimea Rd. The ground floor of the building – designed, developed and partially occupied by Daines and Associates Architects – has remained vacant since it was completed earlier this year. Ray White Nelson principal Susa Guhl said the firm liked the look of the building and the sustainable concept. ‘‘We feel we don’t have to be right in the inner city. It’s a really good high-profile site.’’ She said staff hoped to be operating there within a fortnight, starting with two and eventually building to a team of about 12 salespeople. ‘‘We want to get the right mix together so we’ll just take it one step at a time.’’ St Arnaud store attracts local buyer The St Arnaud Village Store has been sold to local people who are due to take over on November 20, Ray White agent Brian Burke confirmed this week. ‘‘They’re very keen and I think they’re going to make a great show of it.’’ He said the seven-day-aweek business with three-bedroom accommodation had been on the market with another agency before he picked up the listing and sold it in about four weeks. The business was advertised asking for offers above $220,000 plus stock after valuation. Commercial building to double in size Tasman Property Trust has bought a commercial property at 2/2 Tokomaru Pl, in the Wakatu industrial estate. Managing director Daniel O’Connell said the 410-square-metre freehold property with a 120sqm building was bought in a private sale. He declined to comment on the price. Following fit-out early next year, the building size will be increased to 250sqm. The trust will lease the building to one of Mr O’Connell’s companies, Tasman Satellite Services, which contracts to SKY Network Television for the installation and maintenance of SKY TV services in Marlborough and Nelson. The property will also be home to The Audiophile Nelson, which specialises in custom audio and visual systems. (The Nelson Mail, Saturday 14 November 2009) DID YOU KNOW?The Duke & Cooke range of services includes feasibility studies. THOUGHT FOR THE WEEKIf Barbie is so popular, why do you have to buy her friends? |
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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 |