Ngai Tahu builds blood lab at Tower Junction

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.”

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NZBS comments are a load of drivel. Operational sophistician? Mix of property yields?...

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