Property News – 2 February 2022

Nelson College seeks go-ahead for plan to pay $3m debt

Nelson College could clear its $3 million debt within months – avoiding further costs – if the Government approved its ‘‘debt elimination’’ plan, according to the school’s headmaster.

Richard Dykes said if the college didn’t start selling some of its assets, it could be insolvent by about August.

The all-boys’ school revealed last year it owed $2.9m (now around $3.1m) after it renovated two boarding houses between 2015 and 2018 – and boarder numbers fell short of projections.

The college wanted to sell a third boarding house, an old caretaker’s residence and two pockets of land to help repay the debt, Dykes said. The school asked the Government eight months ago if it could help speed up the sales, but had not had approval from the Ministry of Education.

The college had cut costs by pulling back staffing and resourcing ‘‘to what a standard school runs at’’, since he took up the job at the college 18 months ago, Dykes said.

(Nelson Mail, Monday 24 January 2022)

RSA urges action on Stoke Hall

Despite a cost blowout to $4.3m, the Nelson RSA is urging the city coucnil to make haste on major earthquake repairs to the Stoke Memorial Hall.

The hall on Main Road Stoke was built as a ‘living World War II memorial’ in 1952 and has been used by many groups and organisations over the years. However, it was closed in March 2020 after it was assessed as having a 17 per cent rating against the New Building Standard, compared to a previous assessment of 24 per cent in 2014. It was anticipated it would cost $2m to bring the building up to standard, with the council recommendation to allocate $1.2m of capital expenditure towards to project.

(Nelson Weekly, Wednesday 26 January 2022)

Housing remains the key focus for Nelson MP

Housing remains the top issue in the Nelson electorate, says its MP, Rachel Boyack.

‘‘Absolutely No 1,’’ she said in an interview with The Nelson Mail ahead of a speech on Wednesday evening to the Rotary Club of Nelson West.

A rise in social housing numbers would help, she said. The Nelson Tasman Housing Trust, which completed six new homes in December, aims to increase its properties from 43 to 100 properties over five years.

Government changes around the structure of Income-Related Rent Subsidy payments would help to give housing providers such as the trust more financial certainty, which they could ‘‘take to the bank’’, Boyack said.

(Nelson Mail, Friday 28 January 2022)

Land valuations jump 73pc

Nelson property owners should expect a big jump when they get their new rating valuations from Quotable Value (QV).

But while values are going up since the last assessment, in 2018, owners are being reassured that they shouldn’t see an equivalent jump in their rates bills.

The latest rating valuations for Nelson properties, which were assessed in September, are being sent to owners, with the average house price increasing 42 per cent since 2018, taking the average value to $885,000.

Meanwhile, the average land value has increased 73 per cent, to an average of $508,000.

(Nelson Mail, Friday 28 January 2022)

Guardian to help keep lake in the clear

A Nelson alpine lake with the clearest fresh water in the world has a new guardian protecting it against an algal invader.

The Department of Conservation has introduced a paid warden at Rotomairewhenua, also known as Blue Lake, in Nelson Lakes National Park for the first time, after a few years of volunteers looking after the pristine water.

The new position this summer follows the discovery of a diatomic algae known as lake snow or lake snot in some Nelson Lakes bodies of water for the first time.

DOC warden Kylie Batt has a unique perspective on the lake as both a DOC worker and a member of Ngāti Apa ki te Rā Tō, an iwi with a particular cultural interest in the Nelson Lakes area.

(Nelson Mail, Saturday 29 January 2022)

Townhouse plan for Richmond site

In a new type of medium-density development for fast-growing Richmond, 24 two-bedroom townhouses are proposed for a large vacant site on Salisbury Rd.

One house with a separate garage and sleepout used to occupy the land.

Experienced developer Bryan Turner and his team are behind Tasman Holdings Nelson Ltd, which proposes building four blocks of six two-storey homes on the site of more than 4000 square metres at 83 Salisbury Rd, adjacent to the Salisbury School grounds and opposite Waimea College.

Turner declined to comment at this early stage. Resource consent applications for the proposed 24-lot development have been lodged with the Tasman District Council and are awaiting processing.

The application says one parking space for each home is proposed, to be grouped together in a car park at the front of the property, behind a garden adjacent to Salisbury Rd. Two spaces are also earmarked for emergency and service vehicles.

(Nelson Mail, Saturday 29 January 2022)

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