Hutt City Puts Up Prime Real Estate

NEWS RELEASE

from Hutt City Council

4 July 2003

HUTT CITY PUTS UP PRIME REAL ESTATE

Hutt City Council is calling for expressions of interest to build a residential development on one of the Wellington region's prime pieces of real estate.

The approximately 7,100m2 flat, west-facing waterfront site, at Korohiwa Bay, situated at the southern end of Eastbourne, looks out across the entrance to Wellington Harbour, with views stretching across Cook Strait to the Kaikoura ranges.

"Council is looking for a developer with the ability to complete an integrated residential development that maximises the return to Council, is sympathetic to the surrounding area, and will be an asset to the Eastbourne community," said Stuart Duncan, General Manager Asset Management.

To the east the site is bounded by the East Harbour Regional Park and is 2.5km from the Eastbourne shops and 15km from SH2.

"There has already been quite strong interest in the site and we are confident that we will have some great proposals to choose from," said Stuart Duncan.

"Council is not only interested in working with the successful developer to create a development that delivers maximum benefit, but would consider exploring financial arrangements which will be beneficial to both parties"

Currently there are a number of buildings on site, including the old Eastbourne Bus Company's 'bus barns' and five separate buildings comprising nine individual housing units.

"The residential tenants are subject to normal tenancy agreements, which could provide the developer with a source of holding income.

"Council has plans to landscape the area on the seaward side of the road and to the south of the site, which would be implemented in consultation with the developer."

The site is being marketed nationally by Wareham Cameron & Co Ltd. Requests for Proposal can be obtained from Wareham Cameron on payment of a $100 fee.

Inquiries should be directed to Andrew Croskery at Wareham Cameron on 471 0581 or email andrew.croskery@wcc.co.nz.

Registration of Interest closes on 15 August.

ENDS

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