December 22, 2020

NZ Urban Development news from the media | 22 Dec 2020 | Agreement reached on future of Ihumātao

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Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 22 December 2020.

Provided by Rockhopper Development Management & Advisory, a member of:

Agreement reached on future of Ihumātao

An agreement has been reached on the future of the land at Ihumātao, Deputy Prime Minister Grant Robertson announced on 17th December 2020.

“A Memorandum of Understanding (He Pūmautanga) has been signed by the Kīngitanga, the Crown and Auckland Council which sets out how parties will work together to decide the future of the land.

“I want to thank all the parties involved for working together to come to this agreement. I particularly want to thank Kīngi Tuheitia and his officials for their leadership of this process. He Pūmautanga represents the starting point for the future of Ihumātao,” Grant Robertson said.

Housing Minister Megan Woods said the land is being purchased from Fletchers for $29.9 million under the Land for Housing Programme as the parties have committed that there will be housing on the site.

https://www.beehive.govt.nz/release/agreement-reached-future-ihum%C4%81tao

Luxury resort attracts former PM John Key and cricket coach Brendon McCullum

A $750 million luxury development in Gibbston Valley, near Queenstown, has attracted interest from high-profile buyers former prime minister Sir John Key and cricket coach Brendon McCullum.

The project is located on the 40 hectare Gibbston Valley Station, which is co-owned by Greg Hunt, chief executive of Gibbston Valley Winery, Lodge and Spa and Phil Griffiths.

The homes, which haven’t been built yet, will cost between $1.2m and $4m, and buyers can use the station as a “private playground, including access to a nine-hole golf course, a country club and spa, wellness centre, restaurant, gym and a village with artisan shops, cafe and garden centre, Harcourts real estate agent Hamish Walker said.

https://www.stuff.co.nz/business/property/123769946/luxury-resort-attracts-former-pm-john-key-and-cricket-coach-brendon-mccullum

Insurers have paid out $47.5m for the former New Zealand House in the capital.

Owners of the former New Zealand Post House on the Wellington waterfront have received $47.5 million, short of what they claimed, for damage and business interruption from the Kaikoura earthquake.

Listed on the NZX, Argosy Property had claimed a total of $65.8m which was $50.7m for material damage and $15.1m for business interruption costs for the large building at 7 Waterloo Quay.

It had received $24m from insurers and has announced it has received another $23.5m plus GST for “a full and final settlement”.

https://www.stuff.co.nz/business/123722045/insurers-have-paid-out-475m-for-the-former-new-zealand-house-in-the-capital-less-than-what-was-claimed