Sale of Carisbrook Confirmed

Sale of Carisbrook Confirmed

Dunedin (Thursday, 27 June 2013) – Construction company Calder Stewart is the new owner of the Carisbrook sportsground.

In February, the DCC announced it had a conditional agreement to sell Carisbrook to Calder Stewart. Today, Council Chief Executive Paul Orders confirmed the purchase had been finalised, saying “It is pleasing the due diligence process has been completed and that the sale has been confirmed.”

Mayor of Dunedin Dave Cull says, “Carisbrook has been an ongoing liability to Council and it’s good to get it sold. Furthermore, there is a recognised shortage of industrial land in Dunedin. It is hoped the deal will lead to opportunities for investment and economic growth and help revitalise that part of South Dunedin.”

Calder Stewart Joint Managing Director Alan Stewart says, “I am pleased we have gone through this process and got to a satisfactory outcome for all parties.”

In a variation to the original agreement, the historic brick turnstiles, plus 400m2, have been given back to the DCC at no cost, apart from minimal shared surveying costs. This recognises the New Zealand Historic Places Trust classification of the turnstiles and creates the potential for a ‘pocket park’ to be formed.

Calder Stewart will pay $3.5 million for Carisbrook, with $200,000 to be refunded by the DCC as long as all the buildings, apart from the hospitality complex, are demolished within six months.

Now that the transaction has been completed, a large number of documents relating to both the original purchase and subsequent sale of Carisbrook, will be released publicly later next week on the DCC website.

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