Earthquake Prone Buildings

Of the 67 Territorial Authorities (TA’s), only 24 have made a start on the seismic evaluation of local buildings.

The Ministry of Building Innovation & Employment are currently looking at policy and management of the process because it is considered that the current outcomes from TA’s are too variable:

–       with different time frames for strengthening work – up to 50 years in one case

–       some are inactive

–       have different approaches with respect to heritage buildings

–       not delivering a satisfactory level of risk management

There will be adjustments to the process coming from the Ministry

Objectives will be to:

–       balance life and safety considerations against economic, heritage and other

–       have policies that are effectively implemented and consistent across New Zealand

Meanwhile TA’s still proceed with the process of IEP (Initial Evaluation Process) where structural engineers assess the local building stock that is older than 1976 and greater than one storey, to establish if these buildings are classified as “earthquake prone” i.e. less than 34% strength of NBS (New Building Standard)

March 19, 2013 at 3:13 pm

Methlem – Gwavas Road, Tikokino

An auction recently held in March 2013 for a sheep and beef property of some 406ha was well attended.  The auction held at the Waipukurau Club saw bidding by 3 – 4 parties with the property reaching $3.950M before being passed in.  The property located at Gwavas Road, Tikokino, west of Waipukurau, enjoys a balanced aspect with contour described as flat to easy/medium hill with some steep country to the rear of the property.  This quality property has a scattering of Totara and native bush.  Improvements include an established four bedroom dwelling and quality farm infrastructure.

March 11, 2013 at 2:30 pm

CROPPING BLOCK – 41 RICHMOND ROAD, HASTINGS

A recent sale of a well located cropping property in close proximity to Hastings sold under tender in December 2012 for a sale price of $1,050,000.  Soils consist predominantly of Hastings silt loam.  The 16.43ha property has a cottage in fair condition, bore and a number of sheds of limited value.  The sale equates to an average gross sale price per hectare of $63,890.

January 22, 2013 at 1:17 pm

RAWHITI DAIRY SALE – TAKAPAU PLAINS

A significant sale of a large scale dairy unit recently occurred.  Rawhiti Dairies is located in the Ashcott district of Central Hawke’s Bay, 18km northwest of Waipukurau.  The property consists of 464ha of dairy farm and 150ha of support block across the Tukituki River.  Rawhiti was converted to dairy from cropping and dry stock with milk production commencing in the 2008/2009 season; production for 2011/12 of 604,200kg MS was achieved and continues to trend upwards with targets of 620,000/650,000kg MS set for the 2012/13 season.  The sale price of $14,500,000 includes land and buildings, excluding dairy company shares.  Major improvements include 5 dwellings, 60 bail Waikato rotary dairy shed with in-shed feeding system, Protrack automation, and other auxiliary infrastructure.  The property is partially irrigated covering 332ha via one fixed and one moveable centre pivot irrigator with 80ha covered by 2 gun irrigators.  Based on last year’s production this sale price equates to some $24/kg MS.

January 22, 2013 at 1:16 pm

George Macmillan

GeorgeWhile we have farewelled Richard, we now welcome George Macmillan to our team. 

George is a registered Valuer and full member of the Property Institute of New Zealand. George possesses a strong background in the property industry and has worked on a diverse range of valuation and property assignments in the pastoral, horticulture, viticulture and lifestyle sectors. In addition to Valuation, George has experience in Asset Management of large property portfolios.  We are looking forward to George being part of the Morice team, and providing valuation/property services to our new and existing clients.

January 14, 2013 at 11:47 am

Judges see the good from these trees

Mt McNeil at Rissington is a classic example of how a hill country farm should be farmed.

 That was the message from one of the judges of the Hawke’s Bay’s Farm Forester of the Year, Garth Eyles, when he described John and Sue Upton’s property.

 The Upton’s hosted 60 people on a field day last Saturday (1 December 2012) to view the 785ha property.

 The farm has 166ha of radiata pine forestry, almost 10ha of protected wetlands, 37ha of special purpose timber species and ornamentals, and a 5ha QEII National Trust bush covenant on a Kanuka forest.

 The Uptons, who are absentee owners and live in Wellington, contract out their tree management.  “We are totally reliant on other people to do all the hard work and extremely grateful for the input we have had,” Mr Upton said.

 Mark Morice manages the radiata blocks while Kevin Thomsen manages the ornamental and special purpose plantings.  The pastoral land is leased to the Absolom family whose bull and ram breeding business in now part of Focus Genetics.

 Mr Upton credited friends and former Dannevirke farmers Tony and Bibby Plummer for encouraging them to start planting.  First, the radiata blocks were planted, and then in 2000 they began planting ornamentals and special purpose woodlots, and now have 196 different species of trees planted on the farm.

December 6, 2012 at 8:03 am

GRANT BRUNTON

With great pleasure we announce Grant Brunton has joined our rural valuation team.  Grant has recently been studying at Massey University, completing a Bachelor of Agri Commerce, majoring in rural valuation.  Grant comes from a dairy farming and share milking background.  Arriving from Taranaki 2 ½ years ago, Grant and family have made Havelock North home and are enjoying the climate change that the Hawke’s Bay offers.  Grant has a dry stock and dairy support property in Taranaki and has links to a dairy farm situated in Stratford.  We are looking forward to Grant establishing himself at Morice Ltd, and providing valuation/property services to our new and existing clients.

November 20, 2012 at 2:20 pm

PATOKA FARM SALE

A 221.4 hectare Patoka property has sold on Friday 2nd November at auction for $1,730,000. The property is located at 824 Huiarangi Road and was more recently utilised for bull finishing and specialised calf rearing. Improvements include a four bedroom dwelling, three stand woolshed and eight aside herringbone milking shed utilised as part of the calf rearing operation. Land comprises a balance of easy through to steeper hill with a number of gullies bisecting the easier areas. The sale equates to an average gross sale price per hectare of $7,814.

November 2, 2012 at 4:04 pm

Hawkes Bay Rural Property Market Report Spring 2012

Download a detailed synopsis of the current rural property market with trend graphs showing historical property values here.
Key highlights

  • Farm sales in the Hastings and Central Hawke’s Bay Districts have been slow for the 2012 calendar year to date. Earlier signs this spring show a lift in the number of listings.
  • Farm sales in the Gisborne and Wairoa District are back to normal levels after the exceptional year in 2011 driven by the forestry sector.
  • Three sales of dairy properties in 2012.  Reduction in industry confidence after the latest forecast payout downgrade.
  • An increase in the Heretaunga Plains orchard sales after a prolonged period of limited activity and flat market. There now appears to be interest from investor type purchasers committing to long term lease agreements.
  • Cropping market has had modest sales volume with values of premium land holding well and being the most desirable.
  • Two tier viticulture market occurring with two recent Gimblett Gravels sales indicating some market optimism with values outside the Gimblett Gravels generally showing a decrease.
  • Land acquired for carbon farming has all but ceased due to the price of NZU’s reaching an all time low of $2.80 during September. Sales of pre-1990 land continue to be limited. 

October 11, 2012 at 9:16 am

Prime Rents and Yields Summary June 2012

Download the latest research on the Hastings and Napier commercial property market

  • Prime property continues to ‘hold steady’ despite an uncertain world outlook
  • Hawke’s Bay statistics show a further weakening of economic growth; investor confidence is slightly weaker compared with a year ago
  • Building seismic issues bring uncertainty to property trading and it will take the market some time to establish clarity with the long run position
  • Investment property yields in both Hastings and Napier are stable and remain similar to previous levels at 8.1% and 7.7% respectively
  • Demand is apparent from investors for prime retail property but supply is limited.  Industrial property is also in demand and shows the best returns, this is consistent with other regions where the industrial sector shows the earliest recovery.

September 7, 2012 at 8:20 am

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