Health Minister Tony Ryall unveiled a new blood testing facility in Christchurch today – but it is nowhere near Earthquake Recovery Minister Gerry Brownlee’s city centre health precinct.
Last weekend the Canterbury Earthquake Recovery Authority published designations for compulsory acquisition of central city properties which will cost New Zealand taxpayers millions of dollars.
The properties will be used to developer several precincts including a health precinct.
But the state-owned New Zealand Blood Service has instead stuck a deal with Ngai Tahu to build the facility on the remaining development land the tribe owns at Tower Junction in Addington.
Tower Junction is a retail precinct that has gained pre-eminence since the earthquakes. It is anchored by Bunnings and other national brands, plus luxury car dealerships.
“The Blood Service identified Ngāi Tahu Property as an ideal long-term partner and landlord because they have a clearly stated purpose other than the motivation to drive profit," NZBS chief executive Fiona Ritsma says.
"Ngāi Tahu Property understands the importance of community spirit and are in this for the long haul. The landlord profile is of particular importance to NZBS,” the blurb accompanying the media statement today says.
It also says the NZBS sought a landlord with characteristics that included:
- Operates a large commercial property portfolio that affords some scale and operational sophistication.
- A larger property portfolio holding affords capacity for a mix of property yields across the portfolio without overt direct financial impact as would apply to a single or smaller property landlord.
- Has a clear stated purpose other than an exclusive motivation to drive profit to the exclusion of other softer considerations.
“For Ngāi Tahu Property that purpose is to provide financial support, via the prudent management of a commercial property portfolio, by way of a dividend to Te Rūnanga o Ngāi Tahu for disbursement within the wider Ngāi Tahu groups.
"This aligns with the value NZBS places on community spirit and its importance in securing each voluntary blood donation.”
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Sky warns of big subscriber fall
- Clinton shows she has bite in social media scrap with Trump
- Has Uber snookered itself? Air NZ executives cash in, National’s double-edged sword
- What's going on with NZ's private equity and venture capital scene?
- Mortgage brokers wrote 40% of BNZ’s home loans in its first half
Most listened to
- NZVCA executive director Colin McKinnon on the deals and divestments of 2015
- Lee Buchheit of US law firm Cleary Gottlieb explains why the crisis in the eurozone may not be over yet
- BNZ CEO Anthony Healy on his bank's falling margins, dairy woes and the mortgage market
- Toulouse School of Economics professor Thomas-Olivier Leautier says electricity retailing would be more profitable if retailers offered real-time pricing but few do
- David Seymour says the government is hypocritical to believe EVs are next big thing but also need help