Stadium land purchases

On 30 June 2008, the DCC approved the payment of deposits on the leases and land in Awatea and Parry Streets required for the proposed stadium, associated University buildings and the realignment of State Highway 88.

Settlement of five purchases occurred on 31 July 2008. Further settlements will occur on 31 October 2008 and 31 October 2009.

The payments were for a mixture of freehold title, ground leases, tenancy terminations and relocation costs.

About two thirds of the land will be used directly for stadium purposes and about one third will be used for University purposes, open plaza space and the realignment of State Highway 88. It is expected that there will also be some land available for resale or development in support of the purposes defined in the change proposed for the district plan.

The total gross cost of the freehold, buying out perpetual ground leases, severing tenancies and paying for relocation costs, where required, is $32.58 million. However, the sale to the Crown of land to be used for the previously planned State Highway 88 realignment and the sale of other surplus land will reduce this sum by a material, but as yet indeterminate, amount.

While there are land acquisition matters yet to be finalised these settlements represent another significant milestone reached in terms of the proposed stadium development.

Contact details

Contact Peter Chin on 477 4000.

Last reviewed: 28 Aug 2008 1:30pm