Published: 07 Jun 2023
Timaru District Council has completed its purchase of formerly gang-affiliated properties in Washdyke and will clear the sites before putting them up for sale.
The properties at 76-80 and 90 Meadows Road have been purchased by council at their capital value assessed by Quotable Value. The sites, which are zoned industrial will be cleared and put on the market.
The council is working to optimise the return to ratepayers from the transaction, and is expected to recover both the transaction price and any cost from the sale.
Mayor Nigel Bowen said that it was important that the whole package of properties were purchased to block the ability of a new gang to establish itself in Timaru.
“We are pleased that we’ve been able to complete this process and ensure that there’s no place for a new gang to get a foothold in Timaru,” he said.
“These are desirable pieces of industrial land in an area of high demand, so we’re planning on clearing and preparing the sites as soon as possible to put them out to the market.
“This decision was ratified by council last week, and has support of the police and a large majority of the community, many of whom have been in touch to commend us on these positive actions.”
The purchases were unanimously ratified by council at a council meeting on 30 May, and resolutions were made to prepare the properties for sale in a competitively tendered process to optimise the sale price; instruct Officers to bring for its consideration the offers received at the conclusion of the sale process; and to delegates to the Mayor and Chief Executive the authority to complete arrangements as necessary.
The properties were purchased for the capital value, as independently assessed by Quotable Value as follows:
- 90 Meadows Road $1,260,000 Area: 8,776m2
- 80 Meadows Road $305,000 Area: 814m2
- 78 Meadows Road $270,000 Area: 820m2
- 76 Meadows Road $285,000 Area: 811m2
Total price: $2,120,000 Total Area: 11,221m2
Last updated: 07 Jun 2023