Tag Archives: Property valuation

Stadium: Horwath report to DCC (February 2007)

JimmyJones recently referred to the Horwath HTL Financial Feasibility Study, February 2007 (paragraph 2.4) saying that it shows Peter Chin and Jim Harland knew that their stadium was unaffordable, but they went ahead anyway, demonstrating their reckless decision-making:

“Preliminary consultation with the Mayor and CEO of Dunedin City Council indicated that, if funding is not an issue, they personally support the Trust’s vision for a new Stadium in Dunedin. However, they both noted that there is uncertainty, at this stage in the process, as Dunedin City Council has a significant number of projects before it and will need to review it’s (sic) priorities before committing funding for the stadium.”

You can download the report from the DCC website:

Horwath Report (PDF, 447.3 KB)
Financial feasibility and Economic Impact Assessment report for the New Carisbrook Stadium. (February 2007)

DCC has blacked out portions of the text. See below.

In the blacked out appendices of the Horwath Report it states that a leading real estate agency valued Carisbrook at $3 million.

When this was forwarded to the ODT they initially stated that there was nothing newsworthy in the document. It took much pressure to get them to publish the little they did.

A university lecturer said the blacked out portions of the report could simply be copied and pasted into a new document – the DCC had forgotten to put on the lock key. The same lecturer opined that what was happening was criminal!

Horwath HTL Restored Portions of Appendix 1 Final 17May2007
(DOC, 217 KB)

Posted by Elizabeth Kerr


Filed under Business, DCC, Economics, Media, Politics, Project management, Property, Site, Sport, Stadiums

Carisbrook valuation

### ODT Online Fri, 28 Aug 2009
Value based on splitting Carisbrook
By David Loughrey
A Dunedin valuer’s assessment of Carisbrook, which the Dunedin City Council says guided its thinking when it bought the stadium, valued the property at between $7.1 and $7.5 million, Mayor Peter Chin said yesterday.
Read more

Posted by Elizabeth Kerr

1 Comment

Filed under Economics, Stadiums