|
|
Duke & Cooke Property News |
|
Published on: 15th March 2010 'TIGHTER' HOUSE VALUES FORECAST 'TIGHTER' HOUSE VALUES FORECASTNelson house values are creeping up, although Quotable Value expects this year to be ‘‘tighter’’ than last year. The firm’s latest valuation figures, out today, show that Nelson house prices rose 5.5 per cent – the same as the national average – in February, compared with the same period last year. Tasman increased 4.7 per cent. (The Nelson Mail, Monday 8 March 2010) A NEW PLACE TO STAY IN A SPECIAL AREAA new hut in Mt Richmond Forest Park will allow trampers to experience one of New Zealand’s most unique landscapes. The hut replaced an older hut, built 60 years ago, which had been in a poor condition, said Department of Conservation Nelson Lakes area manager Alison Rothschild. The hut is named for the nearby Red Hills, part of the Richmond Range’s mineral belt. It is clad in steel and has a plywood interior. The walls, floor and roof are well insulated with foam and batts, while the windows are double-glazed. (The Nelson Mail, Tuesday 9 March 2010) PROJECTS SEEK COUNCIL HELPLoans a 'terrible signal' Two big community projects are asking the Nelson City Council for hundreds of thousands of dollars to help them over final hurdles. The Theatre Royal Trust has asked for a $300,000 top-up loan from the Nelson City Council, bringing its total loan request since last year to $1.5 million as the possibility of the council buying the theatre is discussed. The council is also stepping in to help bridge a $ 669,000 cost over-run on the Saxton Field Sports Stadium, city councillors heard during this week’s draft annual plan discussions. The council now faced the possibility of having to raise loans totalling $491,000 to help the two projects, and a $366,000 grant to the stadium. Theatre Royal April 2001: Nelson Repertory Theatre Society announces $1.2m upgrade of historic 1878 Theatre Royal. September 2001: City council grants $25,000 for architectural and engineering plans. April 2003: Nelson Historic Theatre Trust takes over management of the Theatre Royal; upgrade now at $1.8m December 2005: Theatre Royal closes for refurbishment now costed at around $4.4m. June 2006: Trust raises $1.4m, including $1m from the Nelson city and Tasman district councils. July 2006: Trust refused $2.2m from the Government's Significant Community Based Projects fund. June 2007: City council agrees to fund Theatre Royal $609,000, plus underwriting a $300,000 loan. November 2007: Labour Government announces $2.9m grant, using a $300,000 council underwrite to help. Trust pays back $200,000 from a Canterbury Community Trust grant. June 2009: City council underwrites $1.2m loan towards the theatre's final fit-out. March 2010: Trust asks for a $300,000 loan top-up, taking the total to 1.5m. Refurbishment costs rise to more than $6m. Discussion starts on future ownership of the theatre. Saxton Stadium November 2005: Saxton Field Stadium Development Society is born. December 2006: New Zealand Community Trust gives $200,000 to the project. March 2008: City council agrees to a maximum contribution of $5.4m subject to the Tasman District Council contributing a maximum $3.6m and the society contributing a minimum $2.5m. City council then agrees to provide an additional loan of $366,000 over and above the $418,892 loan already agreed to. June 2009: More than $500,000 budget blowout announced. October 2009: $12.1m stadium opens. March 2010: Cost overrun set at $669,000. City council steps in to help with a grant and loan. (The Nelson Mail, Wednesday 10 March 2010) WORKS START AT RESERVEWork will start on Monday on changes to the road layout and pedestrian access at Tahunanui Reserve. Footpaths will be linked through the reserve including the new barbecue area to the skating rink car park and along the eastern side of Natureland to the modellers’ pond. Pedestrians will have to share paths with offstreet cyclists and new speed tables will be added. The road north of Natureland will be opened to two-way traffic, and the road between Natureland and the pond closed to traffic. The work will continue until mid-June. (The Nelson Mail, Wednesday 10 March 2010) WATER RESTRICTIONS STARTINGWater restrictions are being introduced in Tasman District. The first stage of water rationing in the Waimea Plains will be effective from next Monday. Dropping water levels have seen the Waimea River flow fall to 2300 litres per second which was just below the trigger for rationing, Tasman District Council dry weather taskforce convenor Dennis Bush-King said. The affected water permit holders, which include irrigators, will have to reduce their take by 20 per cent. Hosing restrictions have also been introduced in Richmond, Mapua, Ruby Bay, Brightwater, Hope, Tapawera and Wakefield and the rural water supply schemes of Redwood Valley and Dovedale. (The Nelson Mail, Wednesday 10 March 2010) HARD ANSWERS SOUGHT ON THEATREThe head of a large construction firm in Nelson has thrown down the gauntlet to the Nelson City Council to come clean on aspects of the Theatre Royal’s refurbishment, which he says could never have been re-fitted for $4 million. Roger Gibbons, of Gibbons Holdings who last year expressed concern about the council’s ‘‘history of mismanagement’’ when speaking about the planned performing arts centre, said today that the Theatre Royal was a case in point. The theatre upgrade was announced in April 2001, when it was estimated to cost $1.2 million to do up. The figure has now grown to over $6m. In recent years the Nelson and Tasman councils have provided financial support, mainly in the form of loans. In June 2007 the Nelson City Council agreed to fund the Theatre Royal $805,000 and not $609,000 as reported in yesterday’s Mail. In November 2007 the Theatre Royal Trust used a $300,000 council underwrite to secure a $2.9m government grant. The loan was not drawn down. Mr Gibbons said hard questions needed to be asked, and answers provided on the project’s development to this point. Nelson Mayor Kerry Marshall said today that his council had inherited a project already well under way. Mr Marshall said Mr Gibbons had made a good point about process but ‘‘we have a building that will be finished and the council will support that otherwise we will end up with another half-finished building’’. (The Nelson Mail, Thursday 11 March 2010) SMALL LANDHOLDERS FEAR SIZE OF RATES LEAPA groundswell of opposition is likely from the owners of small land holdings in Nelson who may bear the brunt of proposed changes to Nelson’s rating system, Wakapuaka landowner Murray Gill says. His property is one of 494 categorised as a small holding and facing an average 20 per cent rates rise, or $365 a year, as the Nelson City Council considers a recommended rating review in its annual plan process. The increase would ease the burden marginally on Nelson’s 17,534 residential ratepayers, who could see a $10 decrease in their annual rates bill. Annual rates collected off Nelson's 494 small holdings: $902,792 Proposed 19.95 per cent rise, including stormwater charges: an extra $364.61 per property. Projected total rates collected: $1.08 million. Annual rates collected off eight urban farms: $15,281 Proposed 7.4 per cent rise: an extra $141.38 per property. Projected total rates collected: $16,412. Annual rates collected off 17,534 residential properties: $28.9m Proposed 0.63 decrease: $10,42 less per property. Projected total rates collected: $28.7m. (The Nelson Mail, Friday 12 March 2010) FEWER HOUSES ON THE MARKETHouse sales in Nelson and Tasman are lagging behind the levels usually seen at this time of year but the Real Estate Institute says agents are short of listings. During February, 140 homes were sold in the region – up from the record low of 111 in January but still down on the 160 sales recorded in February last year. The median number of days it took to sell a property in Nelson and Marlborough increased from 47 in January to 55 last month. Last February, it was 62. The median sale price for Nelson and Tasman was $358,750 – above the $342,000 recorded in January and the $330,000 median last February. (The Nelson Mail, Saturday 13 March 2010) PROPERTY WATCHCity home passed in A 1930s home at 5 Church Lane central Nelson failed to sell at auction this week despite steady bidding pushing the price up to just under $500,000. Summit agent Nigel Craik marketed the property on behalf of the Public Trust Office as an estate sale. The home, which was described as being ‘‘perfect for renovation’’, sits on an 825sq m back section just a few minutes’ walk from Nelson’s inner city. It has an RV $380,000, the auction starting price, and was passed in at $497,000, having failed to reach the reserve. It was advertised again yesterday, price by negotiation. Plunket on the move Plunket has outgrown its Bishopdale premises and is moving to Annesbrook. The organisation has leased the former Nelson Nursing Services building on Main Rd Stoke through Summit commercial agent Bevan Dixon. Plunket area manager Sonya Briggs said it had been looking ‘‘for ages’’ to find the right place, because it was either too big or too small for many of the office spaces that had become available. About 10 staff will work from the new premises, which Plunket will take over next month. The Gateway Housing Trust, the organisation that Plunket subleased its Bishopdale premises from, will expand into its space. Nelson hall for sale A former Brethren Hall at 11 Van Diemen St, Nelson is being offered for sale by new owners, who intend relocating a 1920s character bungalow to the site. The hall is being sold privately, price by negotiation, on the Trade Me Property website. Owner Ashley Stevens, a valuer, said he expected it to go for less than $10,000. There had been about six inquiries so far, including one looking at it for preschool use, he said. Mr Stevens and his father, a builder, recently purchased through tender a Collingwood St bungalow that has been used as offices. They plan to convert it to a four-bedroom home and offer it for sale when the development is complete. New tenant at last The former Video Ezy store in Vanguard St, Nelson, beside Seabreeze Takeaways, has now been leased after sitting vacant for months. Colliers International agent Ken Montgomery said the new tenant did not wish to be identified. ‘‘I imagine they’ll open in two to three months.’’ Multiple offers made A two-bedroom unit at 5 Alyson Place in Stoke attracted multiple offers and sold for more than $300,000 within four weeks of being listed, Summit agent Kate Trower said. The 1970s brick home was listed for offers over its RV of $295,000. Offers were received from local people looking to live within walking distance of the Stoke shops and investors looking to increase their rental portfolio, Ms Trower said. ‘‘[It] left a lot of my buyers still searching for a property to suit their needs.’’ (The Nelson Mail, Saturday 13 March 2010) THOUGHT FOR THE WEEKAbility is what you're capable of doing... Motivation determines what you do... Attitude determines how well you do it. |
|
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 |