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

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news