Carisbrook SOLD

To be confirmed, several emails received this evening say Carisbrook has been sold to Calder Stewart, for $3 million.

More soon.

UPDATED POST 13.2.13

### RNZ National Wednesday 13 February 2013
Morning Report with Geoff Robinson & Simon Mercep
07:29 Dunedin council loses millions on Carisbrook sale
The Dunedin City Council has conditionally sold the former sportsground Carisbrook for millions less than it was bought for. (3′09″)
Audio | Download: Ogg Vorbis MP3 | Embed

08:55 Carisbrook site sold for industrial development
The fate of Dunedin’s historic Carisbrook stadium looks to have been sealed, and 130 years of sporting history is set to give way to industrial development. (3′56″)
Audio | Download: Ogg Vorbis MP3 | Embed

Posted by Elizabeth Kerr

33 Comments

Filed under Business, DCC, Economics, ORFU, Politics, Project management, Property, Site, Sport, Stadiums, Town planning, Urban design, What stadium

33 responses to “Carisbrook SOLD

  1. Anonymous

    By “more” I presume you meant “indictments” for the registered valuation of $7 million and those involved in that sale/purchase agreement.

  2. Mike

    National radio says it’s Calder Stewart for slightly more than half the the original $7m

  3. Anonymous

    He hoped to secure a sale that would more than cover the outstanding $4 million, but said price was ”always a negotiating point until the deal is completed”.

    Dumb. Tell everyone else to shut up but then just state your position. Didn’t they do that for Cousin Farry’s spectacular benefit with the second stadium? I suspect it will work in the opposite direction this time much to the buyer’s benefit.

    Anyone want to guess why Dave’s pooping in his panties? Somewhere between $250,000 and $2,000,000 maybe? Remember when reporters had the strength and character to challenge this type of crap.

  4. Mike

    oops missed the original …. yes how come the ODT can’t come up with this information?

    And don’t forget despite what the ODT said this morning it’s cost us much more than $200k worth of debt servicing – there’s the cost of maintaining the ground for rugby … and of course our previous tenant walked away without actually paying any of the promised rent – we’re out all the costs prior to them moving out as well.

  5. Anonymous

    Assuming they do get between $3M-$4M does that not confirm once and for all that the original $7M valuation was complete and utter rubbish? That it was done to misappropriate funding from the public to support their personal agenda for inappropriate spending?

    • RNZ not mincing words (see headline).

      ### RNZ News Updated 2 minutes ago
      Dunedin council loses millions on Carisbrook sale
      Dunedin City Council has conditionally sold the former Carisbrook sports ground for millions less than it was bought for. The council agreed to sell the three-hectare site during a closed-door meeting on Monday. This latest sale is for the main sports ground, following earlier sales of related houses for $700,000 and half of the old carpark for an undisclosed sum. Radio New Zealand News understands it is being bought by construction firm Calder Stewart for industrial development. The council has been trying to sell the site since it was abandoned for a new stadium 18 months ago. It paid $7 million to take over the ground and some nearby houses from the Otago Rugby Football Union in 2009 and sources say Calder Stewart will buy it for slightly more than half that. The council will not confirm the price or purchaser, saying the details are commercially sensitive until the sale becomes unconditional. It is not clear how close the money will come to settling the $3.8 million debt the council still holds on the Carisbrook deal.
      RNZ Link

  6. Russell Garbutt

    I can only imagine that within the closed session of the DCC most of the time would have been spent on figuring out ways in which to maximise the spin, minimising the information, and ensuring that the idiots that agreed to the original purchase by the DCC from their rorting mates in the ORFU are not exposed for what they actually are. It is more than time for those responsible for this shambolic series of actions including Harland, Chin, the valuer who supplied the dud valuation (if indeed there was one of course) and the rest of the stadium councillors to be held accountable. If these transactions had ocurred for example within a family trust, then I believe that legal actions would have been taken yonks ago. We, the colllective of ratepayers, should be able to recoup our losses from those responsible for incurring them.

  7. Peter

    Hugely embarrassing to the ODT and its reporter. They will be the butt of jokes from other media sources, not alone the Dunedin public.I wonder if they actually knew, but took a bet on others not knowing and reporting. As always, obedient servants to big interests.The paper is a shocker.
    ‘The Otago Daily Times-The Last With the News’. A new slogan to complement, ‘The Independent Voice of the South.’

  8. Mike

    so someone’s ashes are buried there, what are they going to do about that?

    will they also get the little bit of Carisbrook that was ceremonially helicoptered away one of the (many) times they held a last game?

  9. Peter

    Isn’t there a law about inteferring with the remains of the deceased? Did that hunk of turf have someone’s ashes in it when it was helicoptered and dumped elsewhere? The notion of players running over ashes is abhorent! I am offended. Maybe both grounds should be considered ‘sacred’ and closed….like a cemetery….which they are, anyhow, for long periods of time.

  10. Calvin Oaten

    That is the worst news I have heard in all of this mess. To me Carisbrook is/was the lynch pin to solving the stadium debacle.
    If council had the balls and the intellect they would have forced the ORFU to return to Carisbrook and take full responsibility of running
    both it and rugby without any financial input from the DCC. They would be compelled to pay a fair rent for the place or purchase it back
    at a discount. Then the attention could be turned to the problem of the stadium. Closing it down would be the first step, killing off DVL and DVML
    accept the ‘sunk costs’ and holding costs until a full investigation of its potential was carried out. Selling is one option (not a good one). Demolition
    is the most likely, with the site reverting back to ‘industrial/commercial’ thus being fully rated. If there is in fact a dire shortage of industrial land (debatable)
    there would soon be occupancy. It would go into the history books as the “F*** *P” of the century.
    Would this, or any council bite that bullet? Never!!

  11. The Council seems to be happy if the $4 million loan is covered from the sale, but doesn’t the Council also have $2 million equity in Carisbrook?
    No home-owner is going to be happy just covering the mortgage from a house sale if they have lost all their equity.

  12. Hype O'Thermia

    “Readers’ comments” has had some new comments added but strangely none referring to the big story of the day, yet.

    • Guessing, ODT will issue a news update this afternoon (?) or dedicate a whole newspaper to the relief it ‘feels’ that THE OLD GIRL is finally dead (?) – in line with some of its earlier coverage for Carisbrook’s slow tortured demise at the highest possible cost, many times over [not just once].

      DCC is a laughing stock from beginning to end.

      All that has happened in recent years with Carisbrook, DCC, ORFU, Delta, CST et al is due to private citizens (the constituents) not making use of top legal advice and the inquisitional power of the courts to challenge and bring the council, companies, trusts and individuals to account (the legal action far cheaper than the monies lost and the rates and asset sales ahead in the council fire sales…).

      So I’m not blaming ODT for the vagary of missing and withheld news – together, ‘The People’ have always had the power to act, they’ve chosen not to, blindly, obtusely.

      Kaipara is a lesson to us all.
      As is Doug Hall and his counsel.

    • Perhaps we’ll see a trickle of light envelope and invade ODT, bit by bit.

  13. Hype O'Thermia

    Charming piece of nostalgia tripping, as well as proof that DCC and ODT are living in a time bubblebefore the invention of this-here interwebble. Those rosy cosy days when a letter could take weeks – months even – to reach Auntie Maudie and only official spokesmen had the means to disseminate information beyond their immediate neighbourhood. “The Dunedin City Council has signed a deal to sell Carisbrook, but the buyer and the price could remain under wraps for months, Mayor Dave Cull says.” http://www.odt.co.nz/news/dunedin/245564/carisbrook-sold-confidential-deal-destined-industrial-use

    • Updated post at the top of this thread.

      [ODT has updated news since we first aired their item at 6:58 am – “Radio New Zealand reported the buyer was Calder Stewart. The construction firm would not comment when contacted today.”]

    • Hype, Mayor Cull has never been more liable. His bed is full of nails and pricks.

      No wonder Syd Brown has been quiet lately, with Richard Thomson doing a harmful if not accurate impression of the FSD Chairman.

  14. Phil Cole

    Hype…kind of you to mention in your posting at 11.41am about the Cable Car…er…that is what you are referring to as the ‘big story of the day’, surely…:)

  15. Hype O'Thermia

    “The sale of Carisbrook will defray some costs. It was acquired by the city in 2009 for $7 million and has a rateable value of $8.6 million.

    The 3ha single-title freehold property land is zoned industrial but not for big box retail development. It is close to Highway 1 and the main trunk rail line.

    The old turnstile building below the Neville Street stand is to be protected by the Historic Places Trust, which may prove an impediment to development.”
    http://www.nbr.co.nz/article/carisbrook-sale-clinched-colliers-ne-102737

    • NBR are wrong! NZHPT can’t provide or force protection of that item (it can ‘advocate’), or it can suggest a covenant as a (negotiated) condition with the owner.

      Covenants (voluntarily lodged by the owner against the property title) giving long-term protection, are the latest toy for heritage advocacy when district plan protections are prone to failure.

  16. Whippet

    Syd. Maybe he is to busy looking after cuzzies affairs at the moment to concentrate on anything else.You must remember that handling more than one thing at a time, can be difficult for some.

  17. amanda

    Love it, RNZ headline ? “Dunedin Council loses millions on Carisbrook”. The ODT ? “Carisbrook sold in confidential deal; destiined for industrial use”. Old boy Smith’s newspaper nice and neutral and not interested at all in the incompetence of ‘our council’. A council that undersells a real asset a problem for the ODT? Nah, Farry and fellow ‘business leaders’ and stadium councillors are geniuses and visionaries according to Smith and his newspaper’s world view; there must be nothing negative to sully stadium councillors’ chances of re-election.

  18. Hang your head in shame AGAIN dcc.

    Public consultation would have been nice to see what we wanted to do with it. We pay and pay and pay and pay yet these pos don’t do anything logical or what we want. Oh wait, too busy lining their and their mates’ pockets.

    As for industrial land, what a joke. There is no industry left here, if by industrial land you mean more mega stores………

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