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

 


KiwiRail confirms Clifford Bay land sale

Media Release

28 August 2014


KiwiRail confirms Clifford Bay land sale

KiwiRail has confirmed that the sale of the land at Clifford Bay owned by Clifford Bay Limited to local wine grower Peter Yealands has been finalised.

The 413 hectare site was placed on the market earlier this year.

National Manager, Property, Investment and Revenue Andrew Robinson said that the sale price is a private matter between the parties involved.

“KiwiRail has a duty as a state owned enterprise to operate commercially, and make a return on investment, and this sale fulfills those requirements.”

The property was purchased in 1993 by Clifford Bay Limited.

“The Government’s decision last year not to proceed with the development of a new terminal means that the land is surplus to our requirements and therefore the most sensible option is for it be sold,” says Mr Robinson.

Yealands Wine Group Principal, Peter Yealands, also owns the historic Flaxbourne Station and says that he plans to upgrade both properties together.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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