Post by Kiwi Frontline on Aug 27, 2019 17:18:07 GMT 12
IWI OUT OF SHELLY BAY AFTER FINAL BLOCK OF LAND SOLD TO WELLINGTON DEVELOPER
Māori land ownership at Wellington's Shelly Bay has now ended after the trust involved sold its final block for a loss.
A newsletter to Taranaki Whanui members on Monday says the trust sold its fourth and final piece of land at the site for $10 million to The Wellington Company, owned by developer Ian Cassels and his partner Patricia Caitlin Taylor.
The newsletter insisted that Port Nicholson Block Settlement Trust (PNBST) - which manages the Treaty of Waitangi settlement for Taranaki Whanui - would work with the Wellington Company through the Shelly Bay development.
PNBST bought the land for $13.3m almost a decade ago but through a series of recent transactions sold most of it for $2m, then the last block for $10m.
The sale means, with the exception of Wellington City Council land there, the entire development site belongs to Cassels and Taylor......
www.stuff.co.nz/dominion-post/news/wellington/115294018/iwi-out-of-shelly-bay-after-final-block-of-land-sold-to-wellington-developer
Māori land ownership at Wellington's Shelly Bay has now ended after the trust involved sold its final block for a loss.
A newsletter to Taranaki Whanui members on Monday says the trust sold its fourth and final piece of land at the site for $10 million to The Wellington Company, owned by developer Ian Cassels and his partner Patricia Caitlin Taylor.
The newsletter insisted that Port Nicholson Block Settlement Trust (PNBST) - which manages the Treaty of Waitangi settlement for Taranaki Whanui - would work with the Wellington Company through the Shelly Bay development.
PNBST bought the land for $13.3m almost a decade ago but through a series of recent transactions sold most of it for $2m, then the last block for $10m.
The sale means, with the exception of Wellington City Council land there, the entire development site belongs to Cassels and Taylor......
www.stuff.co.nz/dominion-post/news/wellington/115294018/iwi-out-of-shelly-bay-after-final-block-of-land-sold-to-wellington-developer