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

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Half Empty: Dairy Prices Drop To Lowest Since August 2009

Dairy product prices fell to the lowest level in more than five years in the latest GlobalDairyTrade auction, led by declines in butter milk powder and whole milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news