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Cooperative Land Trust makes breakthrough

Cooperative Land Trust makes breakthrough

"The Canterbury Cooperative Land Trust has made its first break-through," according to Christchurch City Councillor, Glenn Livingstone.

Livingstone, the Councillor for the ward of Burwood/Pegasus, containing most of the city's red-zoned residents, says that the Trust has 14 completed sections available for Red Zone homeowners to purchase at Merrilees Place and Cypress Street, Linwood.

Section prices are $119,300 (including GST) and ready for building on, as titles have been issued. The offer is conditional on all sections being taken up by Red Zone home owners by early March and paid for by the end of March. They are available to all Red Zone home owners, not only those who have already registered through the trust's web-site. "If demand exceeds the 14 sections available - the sections will be allocated first to people who have already registered an interest", Livingstone says.

Cr. Livingstone says that, along with the 14 completed sections in Linwood, the Trust's negotiations for land purchase at Rolleston are also looking good. "We have secured another site, which will also become available for residents, subject to due diligence. We will also be aiming to keep these sections under $120, 000."

"Median section prices as of January 15 (The Press January 15) are $178, 000. The trust's aim remains to provide sections at between $90,000 and $120,000 for red-zoned residents, a mortgage saving, let alone without compounded interest savings, of $58,000," Livingstone says.



"We're doing all that we can to bring the two ends of the financial rope for red-zoned residents together. We have to give people hope", says Cr. Glenn Livingstone, community champion for the trust.

The Closing date for receiving unconditional offer contracts to buy sections is 4pm, Friday 2 March 2012. An open day to view sections and receive information will be held 12 noon to 2pm, Sunday 19 February 2012 in Merrilees Place, Linwood. Trustees Simon White and Grant MacKinnon and Christchurch City Councillor Glenn Livingstone will be present to assist and answer any questions you may have.

The developer, Grant MacKinnon, can be contacted on 021 762 256 and registrations of interest in the sections may be made at www.canterburyaffordablesections.org.nz

ENDS

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