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Duke & Cooke Property News |
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Published on: 19th July 2010 HOUSE VALUES UP IN STATIC MARKET HOUSE VALUES UP IN STATIC MARKETQuotable Value statistics released today show Nelson property values are 5.1 per cent up while Tasman is 6.1 per cent above the same time last year, but that increase has dropped from 6.3 and 7.5 per cent respectively during the last month. The average sale price in Nelson was $376,290 in Nelson and $390,563 in Tasman during June. QV Nelson valuer Geoff Butterworth said people weren’t buying or selling unless they needed to. (The Nelson Mail, Monday 12 July 2010) TAHUNA COMPLEX CLOSERGrocery store, restaurant and bar in first stage of Wakatu plan Wakatu Incorporation is getting closer to finalising plans for a multimillion-dollar complex in Tahunanui, with the first stage housing a grocery store, an upmarket bar and a restaurant, chief executive Keith Palmer says. ‘‘I’d like to have it done by the Rugby World Cup 2011 but everyone tells me that’s impossible.’’ The development, expected to cost $10 million to $15m, is proposed for a 1.2-hectare site which includes the Ocean Lodge, although this will be unaffected by the first stage. Mr Palmer said Wakatu Incorporation, as the land owner and developer, was talking with three prospective tenants and designing the buildings around their needs. (The Nelson Mail, Tuesday 13 July 2010) SETBACK FORCES REVIEW OF GLEN PLANNo funding for centre Nelson’s Wakatu Incorporation is revisiting its proposal for establishing a major aquaculture centre at the Glen after being denied $10.45 million in government funding. The Horoirangi Centre of Seafood and Aquaculture was to include a shared research facility and an offshore pipeline to provide seawater for commercial-scale development of aquaculture ponds, hatcheries and incubator facilities at the Glen. Although in Wakatu’s name, the proposal was a joint project with the Cawthron Institute, which is already upgrading its facilities at the Glen, and the Nelson Marlborough Institute of Technology. Wakatu chief executive Keith Palmer said it learned some time ago that its application for funding from the Ministry of Economic Development had been denied. It was now looking at resubmitting the proposal. (The Nelson Mail, Wednesday 14 July 2010) MIDWINTER CHILL HITS REAL ESTATEProperty sales in Nelson and Marlborough have dropped to one of the lowest levels on record. The institute’s Nelson-Marlborough president, Vaughan Borcovsky, said sales usually dropped in June and July but this year’s slump was ‘‘more than we would have expected’’. Nelson-Marlborough June real estate statistics: Nelson sales - 50 Tasman sales - 48 Median house price - $347,250 Median section price - $168,500 House price rise over 12 months - 3.96 per cent Median days to sell - 43 (The Nelson Mail, Saturday 17 July 2010) PROPERTY WATCHSubdivision nears completion The first sections in a Marsden Valley subdivision that has been more than a year in the making are about six weeks off completion, developer John McLaughlin said. ‘‘In property development terms, it’s reasonably sophisticated and low impact. There’s a whole lot of things we’ve done to make it different.’’ Stage one includes about 30 sections which average about 670 square metres. Mr McLaughlin would not comment on price, saying he wanted people to see the finished product before marketing the development. It’s already attracted ‘‘quite a lot’’ of interest from people calling in, he said. New bar to open in Victory Square A Nelson company is planning to open a bar called Brewers in the former Pickled Parrot Pub at Victory Square. A spokesman said it would be a similar style to the Stables Tavern in Richmond, supplying Bays Beers in the bar and bottle store. ‘‘There will be cafe-style food through the day and the evening menu will be basic good quality fresh food, including pizzas, steak, fish, burger and vegetarian meals. We will be catering to the local sports, business and community based groups.’’ A local food operator will sub-lease the business. It was hoped Brewers would open in the first half of next month, he said. Bayleys follows auction route The auction of five properties through Bayleys saw one sell prior and another two went under the hammer, auction manager Jeremy Matthews said. The firm has a renewed focus on auctioning since Mr Matthews was recruited from Harcourts as its auctions manager. A section that was the subject of a mortgagee sale at 3 Torlesse Dr in Little Kaiteriteri attracted multiple bidding and sold for $236,000, Mr Matthews said. It has an RV of $465,000. Meanwhile, a three-bedroom bungalow at 18 Lord Rutherford Rd, Brightwater, with a RV of $280,000 fetched $307,500 at an auction in Nelson. An elevated section in Tahunanui was passed in at $120,000 after a ‘‘dutch auction’’. Mr Matthews said auctions focused buyers and sellers in a cooler market ‘‘like no other method of sale’’. Second-hand dealership opens Mother and daughter team, Sharon and Donna Hunt, have opened a second-hand dealership called Good As New at 26 Gloucester St. Mrs Hunt said she and her husband had always been into finding bargains and thought there was an opening in Nelson for such a business that would also provide employment for their daughter. The premises, which they leased through Summit commercial agent Bevan Dixon, used to be occupied by a picture-framing business which Mrs Hunt said had shifted to a smaller shop next door. The Hunts are trading seven days a week, having opened just last week. ‘‘There seems to be demand so, touch wood, we think we’ve done the right thing.’’ Quick sale after tender The building that houses Fern Lodge and the Prince Albert Bar at 113 Nile St, Nelson, has sold through tender by Colliers International Nelson agents Raj Singh and Tony Gowans. Mr Singh said about four parties lodged tenders and it sold straight away. The new owner was not from Nelson and had purchased it as an investment. ‘‘Nothing changes.’’ Mr Singh would not comment on the purchase price. The property has a RV of $1.075m. It houses a two-storey Victorian hotel and backpackers, and adjoins the Nelson Marlborough Institute of Technology. The new owner takes possession at the end of this month. (The Nelson Mail, Saturday 17 July 2010) THOUGHT FOR THE WEEKThe trouble with being punctual is that nobody’s there to appreciate it. |
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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 |