News and Publications

Property News - 15 July 2021

'Crazy' demand for commercial property

Demand for commercial property is booming in the region, with a shortage of industrial land.

About 60 would-be buyers recently vied for just 10 prime industrial development sites in a new Richmond subdivision, with sites fetching a total of $25 million in unconditional sales in less than a month.

Local Colliers commercial broker Geoff Faulkner says businesses were clamouring for bare land on which to build premises for a variety of uses, including agriculture, construction, logistics and engineering.

He says the region has never seen the likes of demand for this type of property, which was once home to a large piggery back in the 1950s, but more recently housed a number of sheds.

Geoff says there was massive interest across the board. "Businesses are really doubling down on industrial property in Nelson."

(Nelson Weekly, Wednesday 7 July 2021)

Mot's price of popularity

Twice as many people want to live in Motueka than can afford to, a housing survey reveals.

Motueka Community Board chairman Brent Maru said the survey added to his fears the town could lose its ‘‘sense of community’’ if the people who worked in its cafe´s, petrol stations and other businesses could no longer afford to live there.

Finding a property to rent was also difficult for many people as was the cost of renting, especially if those tenants were trying to save for a deposit to buy a home as well, he said.

Tasman District Council urban growth coordinator Jacqui Deans said a survey commissioned by the Tasman District and Nelson City councils, involving 600 residents, found that in terms of location and type of housing that, Motueka had the ‘‘worst mismatch’’.

(Nelson Mail, Wednesday 7 July 2021)

Plan change suspended

The syndicate behind the Maitahi-Bayview development has temporarily suspended its plan change, but expects things to get going again shortly.

The suspension was indicated by the Nelson City Council via a brief notice on its website saying that the applicant had advised the council on June 23 that the private plan change would go on hold.

The change is required in order to rezone the land in Atawhai Valley, over the hills and into Kaka Valley. Should the plan change go through and the land be rezoned, the syndicate made up of Maitai Development Co General Partner Ltd and Bayview Nelson Ltd will be able to build a proposed development of about 750 houses.

Opponents of the development say it will change the connecting Maitai Valley and river for the worse, while supporters say it will provide much-needed housing.

Maitai Development Co director Andrew Spittal said the private plan change request had been placed on hold to give the developers some time to improve the application. A peer review had indicated a ‘‘couple of things’’ that could be better, so the application was being refined. ‘‘I would say by the end of the month, it will be up again,’’ Spittal said.

(Nelson Mail, Friday 9 July 2021)

Council seeking partners for infrastructure fund bid

The Tasman District Council is calling for expressions of interest from iwi, developers and landowners in forming partnerships to apply for a slice of the Government’s Infrastructure Acceleration Fund.

The $1 billion pot of contestable funding was announced in late June by Housing Minister Megan Woods, who said investment in infrastructure was identified by councils ‘‘and others’’ as one of the key actions the Government could take to increase the supply of housing in the short term.

(Nelson Mail, Saturday 10 July 2021)

Dam costs increase again

The discovery of more highly fractured rock, coupled with ‘‘unprecedented’’ inflation, has added millions of dollars to the expected cost of the Waimea dam project.

Waimea Water Ltd chief executive Mike Scott on Thursday told Tasman District councillors the forecast cost to complete the dam was now closer to $164 million.

‘‘Based on what we know right now, based on the known conditions, we anticipate our costs being between what we told you last time and the upper end of the risk range – so between $158m and $164m, and probably trending towards the upper end,’’ Scott said.

Waimea Water is a council controlled organisation that is responsible for managing the construction, operation and maintenance of the dam in the Lee Valley, about 36 kilometres southeast of Nelson. It is a joint venture between the Tasman District Council and Waimea Irrigators Ltd.

(Nelson Mail, Saturday 10 July 2021)