Bay Harbour: February 01, 2023

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Bay Harbour News Wednesday February 1 2023 4 NEWS Latest Canterbury news at starnews.co.nz Apartments site plagued Sunday 19th March 2023 Walk, jog or run? 6km or 12km? You choose, do it your way! Enter now at www.city2surf.co.nz Proudly supporting our charitable partner the New Zealand Flying Doctor Trust •From page 1 Another shareholder, developer Shane Kennedy, had been in talks with the city council, saying he intended to start building in 2021. A resource consent was granted last year but now a new resource consent application has been lodged for a larger complex called The Marriner. It proposes 14 apartments and six commercial units covering the entire western half of the site. Kennedy has also declined to comment on the latest plans. For more than 25 years the former Cave Rock Apartments site has been plagued with conflict, bitterness, controversy and bad luck. It started in the mid-1990s when plans for a 49-apartment Peter Beavan-designed complex was first announced by developer Peter Foster, and neighbours objected. They were finally approved and the complex was built in 1998. Just a few years later problems emerged as many of the apartments were found to have design defects and were leaky buildings. An agreement had to be negotiated with the city council and the builder to repair them. Mainzeal was about to start OPTION: An architect’s impression of the building that would have replaced the original quake-damaged Cave Rock Apartments. repairs when the February 22, 2011, earthquake struck and the main block was abandoned soon after. The entire complex then became the subject of a long and bitter dispute between the owners, and with EQC and NZI (part of IAG) over how to repair the buildings and flooded basement car park at the eastern end of the site. The complex continued to suffer after the quakes, Mainzeal went bust, and architect Peter Beavan died aged 86 from cancer caused by asbestos. The main block was finally demolished in 2012. In 2016, the owners rejected a $16 million full and final settlement offer from the insurers and two more years went by before they finally settled at mediation on the eve of High Court action for an undisclosed sum. A plan to rebuild the main block was then abandoned after costs escalated and, in 2018, a conditional offer to purchase the property as-is-where-is for $4.8m was accepted. More in-fighting followed as four apartment owners, unhappy with how the money was to be distributed, refused to sell. They included the original developer, Peter Foster. SHOP OUR Staff picks SALE Discover some of our team’s favourite flooring from across New Zealand FERRYMEAD FLOORING XTRA Unit 1/950 Ferry Rd P: (03) 376 4974 E: ferrymead@flooringxtra.co.nz www.flooringxtra.co.nz 30 Months interest free^ ^In-Store purchases $1,000 & over. Ends 31 March 2023. Lending criteria, $50 Annual Account Fee, fees, T&C’s apply. Minimum payments of 3% of the monthly closing balance or $10 (whichever is greater) are required throughout the interest free period. Paying the minimum monthly payments will not fully repay the loan before the end of the interest free period e.g. 30 months interest free. Expired Promotional Rate of 27.99% p.a. applies after interest free period. $55 Establishment Fee or $35 Advance Fee applies to Long Term Finance Purchases. For full terms and conditions see www.flooringxtra.co.nz.
Wednesday February 1 2023 Bay Harbour News Latest Canterbury news at starnews.co.nz NEWS 5 with conflict, bitterness, bad luck •From page 1 The High Court was called on to settle that dispute, too, ordering them to sell. Then, even more dispute and legal action over the agreed purchase price after vandals damaged the buildings. When it was all over, owners were finally paid the last of the proceeds in April 2021, but not before 14 of the original residents had died in the meantime. The purchaser Jonathan Lyttle of Citadel Property said at the time he was excited about taking over the site. “We are really happy for the members of the body corporate and owners who have been through quite an ordeal,” he said. However, not long after, he demolished the remaining apartments and in mid-2020 the land was divided into five plots, later changed to four, in a process complicated by a stormwater easement running through the middle of the site. The sections were marketed for a while as sites for owner-occupiers or builders, but only one sold. Concrete foundations were poured for the private residence and locals said timber framing and trusses turned up on site but soon after, they were taken away again. Marriner Developments then acquired the entire site. Several resource consents have been applied for and granted for the site over the past few years, the most recent late last year which the city council is reviewing. City council planners said they cannot confirm when the latest application for a mixed use complex might be considered. DESIGN: An artist’s impression of the Esplanade view of the proposed mixed-use complex of 14 apartments and six commercial units. Who owns the Cave Rock site? • By Tony Simons THE OLD Cave Rock Apartments site is currently in four titles, three of which are owned by Marriner Developments Ltd. A closely related company, Marriner No 2 Ltd owns the fourth. Marriner Developments’ shareholders are Lime Developments and Next Level Projects Ltd. Each has 40 per cent. David and Patricia Moylan from Mt Pleasant have a 20 per cent holding. Marriner No 2 Ltd shareholders are Lime Developments and Next Level Projects No 2 Ltd, each with 50 per cent. on government projects with Kāinga Ora. David Moylan is a director with a related company, Lime Ventures. He lives in Mt Pleasant and was formerly chief executive of Vault Intelligence Ltd, part of an Australian workplace compliance and safety technology VIEWS: An artist’s impression of the proposed mixed-use complex from Marriner St looking towards Scarborough. Next Level Projects and related companies. He is a race horse trainer and is a director and major shareholder in multiple other companies involved with residential and commercial development. In 2015, Kennedy controversially obtained a court order stopping St Bede’s group. College from Jack Lin Lime It was taken Fred Rahme excluding his Shane Developments’ over and son from its Kennedy Directors are Jack Lin and Fred de-listed in 2020. Moylan Maadi Cup Rahme. previously planned to build rowing team The company has been a private residence on the as a punishment after his son involved in developing Marriner St site. and a friend jumped on an Silverstream Estate, Brookvale Shane Kennedy is a director Auckland Airport baggage in Lincoln and has partnered and major shareholder with conveyor. A $37 million dollar idea ignited in Christchurch and fuelled by an ecosystem. If you haven’t heard of Partly, this time will not be the last. The Christchurch-based automotive software company is on a mission to connect the world’s car-parts industry and they recently raised $37 million in funding from leading venture capital funds across Australasia and Europe. This is the biggest Series A capital raise in New Zealand history. They credit what they learnt on their incubator journey as the catalyst for their success. Business incubators are one stage of Christchurch’s innovation ecosystem and this support is key to developing home-grown start-ups, which have the potential to develop into high-growth, high-wage businesses. “This city has an incredibly supportive network and entrepreneurial environment where you’ll find a community which helps and supports each other, an ecosystem that talks about and encourages founders, a safe place to learn from each other’s mistakes, and nurtures each other to think bigger.” - Levi Fawcett, CEO of Partly What’s an innovation ecosystem? It’s a support system to help transform good ideas into thriving businesses. In Ōtautahi, the key elements are: ChristchurchNZ The city’s sustainable economic development agency funds and coordinates the ecosystem Ministry of Awesome Runs a national Founder Incubator programme to grow high-potential tech start-ups and business accelerator programmes ThincLab at University of Canterbury Provides tailored support to help early-stage businesses scale and grow HTK Group Supports Māori and Pacifika start-up and scale-up businesses, for both tech and general businesses Canterbury Employers’ Chamber of Commerce Support local businesses to improve their operations Callaghan Innovation – NZ government Connects innovators, opportunities and networks, and provides tailored technical solutions, training and grants co-funding to spark innovation and accelerate commercialisation New Zealand Trade and Enterprise Provides knowledge and global networks to help exporters make better decisions and connect to the right partners and investors Smart Cities – Christchurch City Council Supports the ecosystem and supports innovators solving city and regional problems Challenges Take people’s ideas for a business, validate that the idea has potential and develop it and pathway founders into the incubators National Rank City Global Rank & Annual Change 1 Auckland 112 (-7) 2 Christchurch 228 (+168) 3 Wellington 268 (+15) 4 Dunedin 578 5 Tauranga 607 Source: StartupBlink, Statistics NZ & ChristchurchNZ 2022 In November, Christchurch jumped an astounding 168 places in StartupBlink’s 2022 Global Start-Up Ecosystem index to make the global top 250. This is the biggest jump in rankings the report’s authors have ever seen. This index ranks 1000 cities across 100 countries and is used by hundreds of thousands of people across the globe to aid in decision-making around relocation, investment and research. So it’s a big deal! The innovation ecosystem in Christchurch is humming – it’s only a matter of time before we meet the next Partly.
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Bay Harbour: February 01, 2023

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