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Duke & Cooke Property News |
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Published on: 12th July 2010 NELSON SALES BUCK NZ MARKET TREND NELSON SALES BUCK NZ MARKET TRENDNelson has been singled out as one region in New Zealand where the property market is turning to favour sellers. Alistair Helm, chief executive of the industry-owned website realestate.co.nz, said the entire country was moving away from an ‘‘extreme buyers market’’, but Nelson was bucking the trend altogether by having a market that favoured sellers. Nelson Marlborough Real Estate Institute president Vaughan Borcovsky said Nelson had a shortage of listings compared to the rest of New Zealand and this was creating the sellers’ market. ‘‘It’s not at a level that it previously was during the boom, because restrictions on money are still tight. Buyers will only go to certain levels.’’ (The Nelson Mail, Monday 5 July 2010) NELSON DESIGNERS WIN AWARDSNelson architectural designers David Todd and Brian Johns have taken top awards at a top of the south design competition. At a function in Nelson last night they were announced winners in the Architectural Designers New Zealand/Resene Nelson Marlborough regional design awards in residential and commercial categories. Mr Todd won the residential alterations and additions design award for a renovation of Nelson couple Ann and Bryan Riley's "modest family home" that was given a major makeover. Mr Todd runs his own business, David Todd Architectural Designers, which designs commercial buildings, new homes and alterations for clients throughout New Zealand. Mr Johns earned the commercial/industrial design award for the Video Ezy outlet in Nelson's Vanguard Street. (The Nelson Mail, Tuesday 6 July 2010) MAJOR HOSPITAL UPGRADE PLANNEDMore beds promised Plans for a multimillion-dollar extension of Nelson Hospital have been released, as the Nelson Marlborough District Health Board prepares for growing demands on hospital beds. The board proposes a two-stage approach to redeveloping the hospital, to add as many as 75 beds in the next 15 years, and possibly a new six-storeyed building with an underground car park. The project, which could cost as much as $55 million and depends on national funding, follows a major rebuilding project finished in 2003, which cost $35.5m and was seen as stage one of the hospital’s ongoing redevelopment. The 179-bed hospital is estimated to need 195 beds by 2016, with provision for another 14 if demand dictates, and for 254 beds by 2026. Nelson Hospital Redevelopment Now: 179 beds. 2016: 195 beds. 2026: 254 beds. First stage: up to $10m. - Extend surgical outpatient area by building level-two extension over rehabilitation gym. - Extend intensive care unit by filling in two courtyards. - Use level-four administration area for inpatients if needed. New six-storey building: $45m. - Two levels for underground car park. - One level for assessment, treatment and rehabilitation. - Two levels for surgical inpatients and a learning centre. - One level for medical, oncology and dialysis. (The Nelson Mail, Thursday 8 July 2010) RISING RENTS PREDICTEDSpring rush expected in market Nelson’s rental rates have been ‘‘muted’’ as people stay put for winter but property managers are expecting they could rise with increased demand in spring. Nelson Property Investors Association secretary Glenn Morris said the demand for rentals in the region was coming and going. Mr Morris uses the Nelson Mail’s Saturday classified columns as a barometer of the rental market and this was running about average, with just under four columns of available properties each week, he said. ‘‘That indicates Nelson is well balanced. There’s not a surplus or a shortage.’’ From January 1 to June 30 for three-bedroom properties. Nelson Bonds lodged – 166. Average rent – $348. Richmond/Brightwater/ Mapua/Wakefield Bonds lodged – 107. Average rent – $352. Stoke/Nayland/Tahunanui Bonds lodged – 146. Average rent $338. Motueka/rural Tasman Bonds lodged – 112. Average rent – $285. Source: Building and Housing Department (The Nelson Mail, Thursday 8 July 2010) MOTUEKA HOSPITAL TRUST PLANS 24-BED EXTENSIONFor Jack Inglis, it’s a case of ‘‘here we go again’’. It’s not even a year since Motueka’s new hospital was completed, and the Friends of Motueka Hospital Trust are close to beginning work on an extension to the facility. The Inglis Trust chairman chose Monday night’s TrustPower Nelson Tasman Community Awards ceremony to announce the proposed 24-bed extension to the hospital. He said the extension was close to being confirmed. He said demand for beds at the 45-bed hospital had outstripped the available space, which he said was mainly due to the hospital’s low costs. The plans have gone to an architect. When he has made alterations, they will go back to the board for review. The extension would include a state-of-the-art kitchen, to be made available to patients. (The Nelson Mail, Thursday 8 July 2010) LEISURE LODGE TOASTS NEW BAR AND RESTAURANTNelson’s second-largest accommodation venue has completed the latest stage in its multimillion-dollar development, with a conference centre next on the list. The Leisure Lodge, on Waimea Rd, opened its new bar and restaurant, Flames on 40, in front of 50 people last night with special guest Crusaders coach Todd Blackadder performing the honours. It signals the end to the $1 million stage for owners John and Wendy Shields. ‘‘We’ve now spent $7.9m on this place since we came here seven years ago and still have a bit to do,’’ said Mr Shields. The planned conference centre would complement the three existing conference rooms at the Leisure Lodge and would satisfy some of the demand for such facilities in Nelson, said Mr Shields. Work is expected to begin in the middle of next year and is likely to cost at least $800,000. (The Nelson Mail, Friday 9 July 2010) PROPERTY WATCHGood interest in farm A second-generation family cattle and sheep farm at Tadmor has been taken over by new owners from Nelson. Combined Rural Traders agent Don Wyllie said the 125 hectares of bare land had a rateable value of $1.28 million. The property was the subject of a deadline sale towards the end of last year. The sale took some time to go through because the property was on five titles and boundary adjustments were required, leaving the two families who sold the property with a home each and some land, Mr Wyllie said. ‘‘There was good interest in the property because of the titles, which varied in size, but the vendors chose to accept a buyer for the whole lot.’’ The new owners were planning to further develop pasture and had already started clearing bush since taking ownership last week, he said. Atawhai property sale A four-bedroom home at 42 Ledbury Rd, Atawhai with an RV of $750,000 sold for $855,000 last month. An item in last weekend’s Property Watch column incorrectly reported that a property at 12 Saddleback Rd, Atawhai went for this amount. The Nelson Mail apologises for the error. (The Nelson Mail, Saturday 10 July 2010) THOUGHT FOR THE WEEKWhy is there an expiration date on sour cream? |
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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 |