Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Significant Benefits From Long-Term Lease of Wakakura

Significant Benefits From Long-Term Lease of Wakakura

Ngāti Whātua Ōrākei Trust Deputy Chairman Ngarimu Blair says a long-term lease agreed with Ryman Healthcare has significant benefits to the hapū.

“The Ngāti Whātua Ōrākei Trust has a responsibility to create inter-generational wealth for our people, and today’s announcement of the long-term lease with Ryman is an example of that.

“Ngāti Whātua Ōrākei remains the kaitiaki of the land at Wakakura and will always have mana there.

“We are proud that profits from the sale of the lease will be reinvested to provide greater returns to the hapū,” says Mr Blair.

Details of the lease agreement are commercially sensitive and therefore confidential, however the land at Wakakura remains in Ngāti Whātua Ōrākei ownership and will be leased to Ryman Healthcare for 150 years. This is contrary to earlier news reports that the land had been sold.

“Ngāti Whātua Ōrākei fought hard to get this land returned as part of our Treaty of Waitangi settlement with the Crown.

“Wakakura has not been sold, but all going well it will be developed and provide long-term sustainable benefits to our people,” said Mr Blair.

Rob Hutchison, chief executive of Whai Rawa, the Ngāti Whātua Ōrākei commercial arm, said the agreement with Ryman Healthcare is for 4.2 hectares, and is a small part of the total 21 hectares of hapū landholdings.

“The hapū has considered several options for development of its land, not just at Wakakura but across Tāmaki Makaurau.

“The Wakakura land, because of restricted access and Lake Road traffic problems, is unlikely to ever permit high density housing and the land value means affordable housing is uneconomic.

“Ngāti Whātua Ōrākei recently stated that a retirement village was the preferred and most viable option for the site, due both to traffic concerns and the ability to provide diverse housing in the area, particularly for the elderly,” said Mr Hutchison.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Revenue Renewal: Tax Modernisation Programme Launched

Revenue Minister Todd McClay today released the first two in a series of public consultations designed to modernise and simplify the tax system. More>>

ALSO:

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news