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Duke & Cooke Property News |
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Published on: 6th January 2010 COMMERCIAL RATES 'A BONE OF CONTENTION' COMMERCIAL RATES 'A BONE OF CONTENTION'Commercial rates have ballooned by up to 85 per cent in Nelson during the past five years, according to a snapshot survey by The Nelson Mail. Commercial landlord Gaire Thompson, a strong critic of the Nelson City Council, is accusing it of trying to "soften the blow" to residential ratepayers by making the commercial sector pay more. The council disputes this, saying it has had the same rating policy for nine years, which ensures that commercial rates increase in line with residential rises. Council chief financial officer Chris Fitchett said a differential was applied for rating commercial properties, in keeping with a policy that ensured they contributed 25 per cent of the city's overall rates take. The largest commercial rate increase identified in The Nelson Mail's survey, for a property at 51 Halifax St, was the result of its land valuation increasing by 105 per cent in 1996 compared with an average commercial increase of 44 per cent, Mr Fitchett said. Tasman District Council accounting manager Russell Holden said the district council rated commercial properties based on capital valuations, coupled with a Richmond business rate and a tourism rate. "That seems to work here." Some Examples - Tile Plus, 51 Halifax St 2003-04 $5468.25 2008-09 $10,160.80 85 per cent increase - Pascoes, 195 Trafalgar St 2003-04 $5308.80 2008-09 $8102.70 52 per cent increase - Rebel Sport, 73 Rutherford St 2003-04 $18,071.25 2008-09 $25,319.30 40 per cent increase - Lambrettas, 204 Hardy St 2003-04 $4128.25 2008-09 $6821.40 65 per cent increase Richmond - Queen St Pharmacy, 215 Queen St 2003-04 $3875.50 2008-09 $4181.90 7.9 per cent increase - El Taverna, 183 Queen St 2003-04 $6479.30 2008-09 $9688.20 49 per cent increase - Haven Realty, 8 McGlashen Ave 2003-04 $2792.20 2008-09 $4156.80 49 per cent increase - The Car Company, 7 Salisbury Rd 2003-04 $1622.65 2008-09 $2114.10 30 per cent increase (The Nelson Mail, Wednesday 23 December 2009) SALE DEPENDS ON COURTS RULINGThree parties remain interested in buying the Maitai Club building in Nelson's Kinzett Tce, but any sale is dependent on the outcome of a court order, club president Peter Fisher says. The building, which sits on Nelson City Council-owned land, had a 2005 rateable value of $1 million. (The Nelson Mail, Wednesday 23 December 2009) COMMUNITY CHURCH EXTENDS ITS REACHAfter almost 25 years, All Saints Anglican Church vicar Andrew Burgess is excited and a little relieved to finally have his Nelson church's extension completed. The extension features office space and a meeting area with a kitchen where services and functions can be carried out. The project cost about $650,000, which was raised from within the community. Mr Burgess said it had been a huge effort by the parish of about 300 people to make the vision a reality. Loaves and Fishes and the night shelter have been running for 25 years, since about the time the idea for the extension was first mooted. Mr Burgess said it never went any further. Then, five years ago, the church felt it was the right time to follow it through. "We wanted to extend our buildings to do more than we were in terms of our work as a church." Mr Burgess hoped the community would feel welcome to use the facilities. (The Nelson Mail, Wednesday 23 December 2009) ROCKS PARK DREAM COMES TRUEThe popular Labryinth Rocks Park created by the late Dave Whittaker has reopened to the public as a Tasman District Council reserve. The two-hectare wonderland of regenerating native bush, limestone canyons and crevices just outside of Takaka closed in May last year as Mr Whittaker was no longer able to maintain the property due to ill health. But his wish that someone else would "carry on the dream" has come true thanks to the work of dedicated volunteers who formed a group called Friends of the Labryinth to maintain the park and keep it clear of noxious weeds. (The Nelson Mail, Thursday 24 December 2009) LATE RUSH FOR NEW BURNER CONSENTSNelson City Council staff were swamped with requests for consents from homeowners in areas of the city and Stoke wanting to install new woodburners before the Christmas Eve deadline for applications. From next Friday, homeowners in some areas of urban Nelson and Stoke will not be able to use woodburners installed before certain dates. The deadline has now passed for seeking consent to replace original burners with approved, clean-burning burners. Council environmental educator Jo Martin said that from the start of this year until recently, 1300 applications were received for building consents to replace woodburners, and another 650 arrived before Christmas. Homeowners in the Nelson Hospital area, Bishopdale, Victory, Toi Toi, the area between the two Nelson colleges, Washington Valley, Tahunanui, and the Tahunanui Hills south of the Cliffs have to replace woodburners installed before 1996. These burners cannot be used after January 1, and neither can burners installed before 1991 in homes in Stoke, Wakatu and Enner Glynn. (The Nelson Mail, Saturday 26 December 2009) PROPERTY WATCHNew lease on life for Turf Hotel The Turf Hotel in Stoke has been bought by a group of Nelson business people. The company that owned it, CEA Trading, went into receivership this year. The Turf was one of four local hotels offered for sale through Auckland-based receiver Andrew Grenfell. He said "more than one party" had been keen to buy it. The sale had gone unconditional and would settle at the end of January. Mr Grenfell would not disclose the price, saying there was a confidentiality clause in the sale agreement. A spokesman for the new owners told the Nelson Mail that they were four local business people, two of whom would operate the hotel. They were planning minor changes relating to the restaurant and tidying up a few areas, he said. Another former CEA property, the Sports Cafe in Nelson, has also sold and is already trading under the new ownership as 623 in the City. Mr Grenfell said Shooters and the Grumpy Mole in Bridge St had not sold and would probably be remarketed next year. Million-dollar house sales The Nelson region clocked up three million-dollar-plus property sales last month, with two of those being in Brougham St, Nelson. Real Estate Institute statistics show that a three-bedroom home on an 825-square-metre property at 41 Brougham St fetched $1.425 million after being listed in May. It has a rateable value of $1m. A four-bedroom home on a 741sqm property at 36 Brougham St, listed in July, sold for $1.125m. Its RV is $930,000. Meanwhile, a two-bedroom home at 7 Talisman Heights in Kaiteriteri, with an RV of $900,000, sold for $1.11m. First National agent Wayne McCrorie this month sold a five-bedroom home at 379 Hill St, Richmond for "very close to" the asking price of $1.395m. Its RV is $1.225m. Industrial estate property sells The Tasman Glass property in the Wakatu Industrial Estate at Stoke has been sold through Colliers International agent Ken Montgomery to a local investor for an undisclosed sum. He said it was a "good, strong investment" with a new 12-year lease signed up this year. It was "quietly" listed, and sold without advertising at the vendor's request. Colliers International Nelson managing director Tony Gowans said the McDowall Freight property and the Vehicle Inspection New Zealand centre at 32 and 34 Packham Crescent also sold through Colliers during the past three months for between $1.15 million and $1.25m, producing yields of between 8 and 8.2 per cent for purchasers. Housing shortage sorted Nelson is no longer facing a housing shortage thanks to the recession, according to valuation agency Duke and Cooke. An analysis by residential property specialist Barry Rowe in the firm's latest Outlook property report says building consents for new homes dropped from 535 in 2008 to 334 in 2009. Section sales also fell, from a peak of 339 in 2007 to 115 in 2008 and just 46 this year. "Based on projected population trends and previous building consent statistics, the Nelson region does not appear to be heading for a significant housing shortage," Mr Rowe said. However, various factors could cause the situation to change. Port cafe on the market A well-established cafe that has been operating at Port Nelson for 30 years is on the market. Captain's Cabin owner Jo Rewi said she had owned the cafe for six years and was planning to shift to Queenstown, where her husband had a job opportunity. Summit commercial agent Bevan Dixon has listed the business for $250,000 plus GST, and the building is also for sale for $250,000 plus GST. "(I'm) confident a buyer will be found, as it trades only five days (a week) and does a good trade in that time." (The Nelson Mail, Saturday 26 December 2009) GOVT ADDS $1.5M TO PARK UPGRADEThe Government has guaranteed Nelson $1.5 million for the upgrade of Trafalgar Park, Nelson MP Nick Smith has announced. The Nelson City Council has already committed $5.9 million to an upgrade of the park in time for the 2011 Rugby World Cup, during which the city will host two matches. That money is being spent on several things, including upgrading the turf and drainage, the pavilion, a new electronic scoreboard, new toilets, shaping the northern embankment and replacing the perimeter fence. The Government previously offered to provide $1.5 million as part of this year's budget, with the condition that it be spent on top of what the council had already planned, as opposed to offsetting the ratepayer contribution. The government funding was confirmed last week. (The Nelson Mail, Monday 28 December 2009) PROPERTY WATCHUrban design consultants The Nelson City Council has appointed two new consultants to help implement the Heart of Nelson Strategy. The North Island-based Isthmus Group will fill the roles of urban design consultant, and Janet Bathgate will be the arts consultant for the projects. Planning and consent divisional manager Richard Johnson said Isthmus had a great track record of work around New Zealand. He said Ms Bathgate would focus on identifying opportunities where art could enhance the project design. She had worked with the council and the Department of Conservation on many artistic and information-based projects, such as the interpretation of the art on the Aratuna-Normanby Bridge. "Both appointees will get straight to work on the first two high-priority Heart of Nelson projects - the Lower Maitai Pathway and the Pocket Promenade in Montgomery Square." Mr Johnson said the first phase of construction on both projects should be complete before the Rugby World Cup 2011. (The Nelson Mail, Tuesday 29 December 2009) COASTAL DEVELOPMENT A RISKThe threat of climate change means that the Tasman District Council needs to be more cautious than it has been in the past when granting consent for development on Mapua's coast, says a council consent planner. The warning is contained in a report on an application which seeks permission to develop a waterfront subdivision in the area and is one of the reasons consent planner Pauline Webby advises the development be turned down. The application for the development has been put forward by the Stephens family and outlines plans to subdivide about seven hectares of rural 1 land on Aranui Rd to create three allotments, each with coastal frontage. Instead of the existing one property, the subdivision will increase the number of houses to three. The lots will be down a 1km right-of-way and the development allows for a 16-metre esplanade strip. The council's environment and planning subcommittee will consider the proposal during a hearing on January 13. (The Nelson Mail, Wednesday 30 December 2009) HOUSE PROJECT FOR ZIMBABWEA house moved from Richmond Mall is to become the focus of a big community project to raise funds to house children at a Zimbabwe orphanage. In two weeks builders and other tradesmen will start renovating the three-bedroom house which is to be auctioned at the end of next month. Richmond Mall has donated the house to KiwiLink, the mission arm of Christian Churches New Zealand, of which the Annesbrook Church is part. Its members are involved in helping Khayelihle Children's Village in Zimbabwe. The house, which has been moved from Talbot St to Crescent St, will get an "extreme makeover" co-ordinated by Mainzeal construction manager Graeme Earl. "He's pulled in a whole heap of favours from people and the response from local contractors who will give their time free has been amazing," said Richmond Mall centre manager David Hill. "It's going to be a huge community project." (The Nelson Mail, Saturday 2 January 2010) DID YOU KNOW?Duke & Cooke also provides negotiation services. THOUGHT FOR THE WEEKEveryone has a photographic memory; some just don't have film. |
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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 |