Sylvia Park up for big expansion, governance maps decided…..
Published 12 March 2010
While many eyes were focused on regional governance changes yesterday, Kiwi Income Property Trust was getting approval to notify a plan change for Sylvia Park which would greatly increase the amount of development allowed there…..
The governance issues are serious, though, as the region heads toward elections at the end of this year which will cement in place some very odd political districts…. Among them, the concoction that puts the Hibiscus Coast, the top of the Shore & a piece of Albany together yet leaves out obvious expansion zones such as Dairy Flat…. The North loses its main urban hub – maybe not bad, but its extension down to Coatesville is a poor alternative to a rural link with the next district up, Kaipara…. And in the south, some splits have been avoided while others will cause friction….. In the middle, splitting Orakei & Maungakiekie made sense…..
In the marketplace, Bayleys had some good results in yield terms but a low sell rate at its auction yesterday of a large chunk of NZ Retail Property Group’s Westgate & Fraser Cove portfolios……
And in the economic outlook, Alan Bollard holds the ship steady for the moment…..
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