Property news in brief

Richmond may get more intensive housing

Tasman District Council is looking at encouraging more intensive housing in central Richmond. Its Richmond Residential Advisory Group has just reported on where and how higher-density housing should be managed. The report argues that simpler planning processes are needed and that minimum sizes for sections are too large, particularly for older couples and single people. It says there is known demand in the Croucher St “character” area and other priority areas should be identified. The council aims to change its rules in the Tasman Resource Management Plan by mid 2016. Higher-density housing is already provided for in the Richmond South and Richmond West development areas on the outskirts of the town. 

Chow Group moves into Rotorua

Chow brothers plan to turn one of Rotorua’s largest offices into hotel

The Chow Group has bought the Zen Building in Rotorua. NBR Rich Listers Michael and John Chow confirmed they would convert the 19-storey office building into a 150-room four-star hotel to be managed by a hotel chain. The one-time government building is one of the largest in the city and has views of the city and lake.

Tokomaru Steam Engine Museum on the block

The Tokomaru Steam Engine Museum, south of Palmerston North is for sale. Colin and Esma Stevenson have spent 50 years restoring their steam engine collection but are now retiring. They opened the museum in 1970 and their one kilometre railway track was opened by former engine operator Norman Kirk. The property boasts a three-bedroom house, garage, storage sheds, working steam engine museum complete with steam locomotives and carriages, the historic Tokomaru station, 50 steam engines and an engineering workshop. It is being sold by tender.

South Port expanion plan

South Port is embarking on its own inland port project, the Invercargill Freight Centre, on a “modest” 0.8 hectare site adjacent to KiwiRail’s rail-head, to offer “a cost competitive and efficient import-export service for the southern region,” chairman Rex Chapman says. South Port is also buying a second container crane as part of a $6.5 million investment to retain its container shipping customer MSC (Mediterranean Shipping Co), it “faces competitive pressure to retain and attract cargo out of Bluff.”

Metlifecare drops plans to buy golf course

The retirement village operator has dumped plans to buy the Manukau Golf Court from Fletcher Residential for a retirement village. The listed company says after completing due diligence it has determined the proposed project did not meet its risk/return thresholds and capital allocation criteria. Metlifecare says it is continuing with due diligence on sites in McClymonts Rd, Albany and its resource consent for the land at the Peninsula Golf Couse at Red Beach. Investigations are continuing on possible acquisitions of other sites in primarily Auckland, Bay of Plenty and Hamilton. 

Property Council honours Richard Didsbury

Auckland businessman Richard Didsbury has been honoured by the Property Council for his contribution to the New Zealand commercial property industry. Mr Didsbury has become the Property Council’s 2015 Member Laureate. Mr Didsbury founded Kiwi Income Property Trust, which developed the Sylvia Park shopping centre in suburban Auckland. He developed the Vero Centre and the ASB Bank building on Auckland’s waterfront. He has also been a director of Infrastructure Auckland, Tourism Auckland, and is a director of Auckland International Airport, SkyCity and the Hobsonville Land Company. He helped form the Committee for Auckland in 2002, of which he is the chairman. Property Council national president Peter Mence said he was delighted to recognise Mr Didsbury’s commitment to the commercial property sector and the legacy that he has created.” Richard Didsbury is well-known within our industry for the leading projects he has produced. This is a chance to show our respect and gratitude for years of dedication in the way of innovation, leadership and top quality work.”