Delta / DCHL not broadcasting position on subdivision mortgagee tender

Election Year : The following opinion is offered in the public interest. -Eds

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Received from Cr Lee Vandervis
Sunday, 14 February 2016 at 10:43 p.m.

█ Message: An individual interested in the Noble [Yaldhurst Village] subdivision but who wishes to remain anonymous has sent me the attached photograph and the following comment. I believe that it is in the public interest for this comment to be published, as it is largely confirmed by information I have been receiving from interested parties in Christchurch over the last two years.
It seems remarkable to me that the current Yaldhurst subdivision mortgagee sale process has not been widely reported or commented on, especially as DCC’s Delta is so heavily invested in what was always a risky subdivision, a very similar scenario to the Delta Jacks Point/Luggate subdivision that lost $7-9 million.

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Delta heavily invested in failed Yaldhurst land subdivision, Christchurch

“Taken 13 February.
These are the only residents likely on this piece of land in the near future.

There are pylon radiata right through the land.
According to someone who lives in the subdivision next door, the Noble owner agreed with the next door owner that there could be a road which goes through both subdivisions, which would allow more sections to be developed on the next door land. Apparently he reneged on the deal so as he could put more sections on the Noble land. In the event he has since died, and both NZTA and the Christchurch City Council have not been allowing the subdivision to be signed off because the roads developed on the land are not sufficient for either reading in general or for roads which a Council will take over when the subdivision is complete.

So the number of sections Noble wanted to squeeze out of the land determined the roads which are not right for the land.

It is being advertised as a block of land, without taking into account the infrastructure put in I guess by Delta, because it looks like you would need to start from scratch.

Someone shifts the cows around the land to keep the grass down.

I could not even find a gullible cow who would tell me they thought the land was worth the $10 to $15 million we are pretending Delta could get out of any possible sale, even if they were the first call on the proceeds rather than being in line after a mortgagee or 2 as well as any others with priority claims.”

[ends]

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New Zealand Companies register: Delta Utility Services Limited (453486)

█ Directors: David John Frow (appointed 25 Oct 2012), Trevor John Kempton (01 Nov 2013), Stuart James McLauchlan (01 Jun 2007), Ian Murray Parton (25 Oct 2012)

More: Historic data for directors

Related Posts and Comments:
30.1.16 DCC Rates: LOCAL CONTEXT not Stats —Delta and Hippopotamuses
29.1.16 Delta #EpicFail —Yaldhurst Subdivision ● Some forensics
21.1.16 Delta #EpicFail —Yaldhurst Subdivision
21.1.16 DCC LTAP 2016/17 budget discussion #ultrahelpfulhints
10.1.16 Infrastructure ‘open to facile misinterpretation’…. or local ignore
15.12.15 Noble property subdivision aka Yaldhurst Village | Mortgagee Tender
21.9.15 DCC: Not shite (?) hitting the fan but DVL
20.7.15 Noble property subdivision —DELTA #LGOIMA
1.4.15 Christchurch subdivisions: Heat gone?
24.3.15 Noble property subdivision —DELTA
23.3.15 Noble property subdivision: “Denials suggest that we have not learned.”
17.3.15 DCC —Delta, Jacks Point Luggate II…. Noble property subdivision

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Posted by Elizabeth Kerr