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Shelly Bay developer sale at fraction of price to iwi
Shelly Bay developer sale at fraction of price to iwi - property records
Property records show iwi land at Shelly Bay was sold to developers for a fraction of its sale price.
Photo: RNZ /SUPPLIED
The Wellington development has been under fire with film director Sir Peter Jackson saying the way the land was sold by the Port Nicholson Block Settlement Trust should be investigated and is advocating for a review.
Developer Ian Cassels hit back at Sir Peter's Facebook post saying his statements were incorrect and the partnership with iwi who owned the land was delivering real outcomes to the members of Taranaki Whānui.
However, the sale of the whenua at Taikuru (Shelly Bay) has caused tension within the iwi for some time and there has been continued opposition to it being sold.
Corelogic's Head of Research, Nick Goodall, said four parcels of land came into iwi hands in 2009 for just over $13.3 million. The sale was initially agreed on in 2008 on the same day Taranaki Whānui ki Te Upoko o te Ika's treaty settlement. The sale was finalised in February 2009.
Three of the parcels were then sold to Shelly Bay Investments Limited for $2m in 2017.
The fourth piece of land is owned by Tai-Kuru Limited Partnership - which is understood to be connected to the iwi.
A Port Nicholson Block Settlement Trustee, Neville Baker, did not respond to requests for comment but has said previously that iwi want a return on the land.
Photo: RNZ /SUPPLIED
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