News and Publications

Property News - 9 October 2017

Airport flying high on boom and build

New routes and more visitors are some of the goals put forward for Nelson Airport as record profits and new infrastructure emerges.

Having welcomed its one millionth passenger for the 12 months to June, Nelson Airport has recorded a strong financial result in its annual report.

As well as record passenger numbers, highlights of the report included revenue of $9.1 million and a net profit after tax of $3.1 million.

This represented a growth of 71 per cent on earnings as well as a 34 per cent passenger increase on two years ago.

The introduction of new routes and extra flights from the airlines have delivered a strong operating environment towards the airport’s associated commercial activities.

Construction works are now under way on the two-year, $32 million project to build a new terminal and car parking set up, after contracts were let in May 2017.

(The Nelson Mail, Monday 2 October 2017)

Surplus up and debts down for TDC

Tasman District Council ended the 2016-17 financial year with $44 million less debt than budgeted and an underlying operating surplus of $12.9m.

The council’s net external debt at the end of the year was $122m, compared with a forecast $166m while the operating surplus was $12m ahead of budget. Key factors in the huge variance include additional income and an underspent capital works programme. Finance manager Russell Holden said the capital underspend totaled about $25m.

Project Progress

While the council's capital projects spend of $32.7m was below budget, a lot had been achieved including:

  • Extra facilities for St Arnaud and Murchison;
  • The start of joint landfill operations with NCC;
  • Progress on replacing the Kaiteriteri sewer main under the Tapu Bay estuary with a land-based pipe;
  • Work towards improving freshwater quality;
  • Progress securing land, funding for the proposed Waimea dam;
  • Completion of a new community recreation centre for Golden Bay.

(The Nelson Mail, Monday 2 October 2017)

Fix for Modellers Pond drowning in costs

A permanent fix for Nelson's Modellers Pond has been given a new increased price tag of $1.73 million.

The Nelson City Council's sport and recreation committee will ponder the issue on Thursday, and debate a recommendation to put on hold work to fix the Tahunanui pond.

Issues related to the weed-infested pond, used by model boat enthusiasts, date back decades and a new estimate finds annual costs of maintaining the pond in its current state could hit about $100,000.

A report has also revealed the final estimate to fix the pond has increased by a "substantial" $530,000, coming in at $1.73m.

(The Nelson Mail, Wednesday 4 October 2017)

Regional house prices hold firm

Nelson house prices are holding steady despite a slow-down in house values across most urban areas nationally, according to Quotable Value’s latest report.

Tasman house prices are still growing, but at a slower rate than the previous quarter the report shows.

Nelson’s average house value rose by 2.5 per cent, compared to 0.8 per cent growth in the three months to June.

The average value of a house in Nelson is now $545,565, a rise of 14.4 per cent over the year.

In Tasman, the average property value is $539,866, up 0.9 per cent over the three months to September, compared to an increase of 2.3 percent in the previous quarter, and a 13.6 per cent rise over the last year.

Nelson’s average property value ranked sixth out of the 15 urban areas listed, after Queenstown, Auckland, Tauranga, Wellington and Hamilton. Nationwide property values rose by 1.1. per cent and 4.3 per cent over the past year, with the nationwide average value now at $646,378.

(The Nelson Mail, Wednesday 4 October 2017)

Agreement reached over dam project

A letter has been signed outlining the commitments of intended parties to the multimillion-dollar Waimea dam project.

Tasman District Council and Waimea Irrigators Ltd (WIL) are likely joint-venture partners in the $82.5 million project in the Lee Valley, near Nelson. Crown Irrigation Investments Ltd (CIIL) is a proposed funder of the dam, which is tipped to provide a loan of up to $25m to WIL and an interest-free loan of $10m to the council.

The council and WIL have cosigned a letter proposed by CIIL that sets out agreement on the terms for capital raising, water supply and the obligations of each party.

Council chief executive Lindsay McKenzie said the letter was significant because it locked in a set of agreements that would underpin the council’s Statement of Proposal, which is due to be finalised and go out for public consultation this month.

(The Nelson Mail, Wednesday 4 October 2017)

Pondering all the options

The council’s looking back to 1998 to find a solution for Tahunanui’s Modellers Pond.

Earlier this year, the Nelson City Council committed to spending $1.2 million on retaining and fixing the pond, which is infested with weeds and algae.

However, after detailed costings saw the price for a fix reach more than $1.7m, staff recommended other options be explored before a final decision was made.

An earlier-revoked estuarine option is back on the table after the sport and recreation committee voted yesterday to put the pond-fix on hold.

Council staff will spend four to five months developing a detailed business case, including exploring a range of sub-options related to the estuarine option. These could range from grasslands through to developing a wetland.

(The Nelson Mail, Friday 6 October 2017)

Whale survives playground revamp

The ‘‘fort’’ section of Tahunanui’s playground has been removed, but the beloved whale beside it is staying put.

The demolition has come at the start of the school holidays, after Nelson City Council staff found the wood and metal structure, featuring monkey bars, slides, and yellow tubing, had become ‘‘very rusted’’.

Acting chief executive Alec Louverdis said they knew the 20-year-old fort was approaching the end of its expected life and new playground equipment had already been planned.

The council made the announcement on its Facebook page on Wednesday, stating staff had made a ‘‘difficult’’ decision to replace the fort, which was built by the Lions club.

‘‘The old fort will be replaced with a similar but much more modern (and safe) fort, with a seaside theme. They are working to get the new fort installed as quickly as possible...’’ the post said.

(The Nelson Mail, Friday 6 October 2017)

Thought for the Week

Honest criticism is hard to take,
particularly from a relative, a friend,
an acquaintance or a stranger.

(Franklin P. Jones)