The Ruapehu District Council has decided to dispose of surplus property in its investment portfolio.
Thursday, May 19th 2005, 6:53AM
by The Landlord
RDC Team leader, Community Property, Margaret Hawthorne said the current real estate environment provides an excellent opportunity for the Council to realise the best price on the real estate sales.
Mrs Hawthorne said, "council has had a higher level of interest in our property portfolio in the last six to 12 months than we have had in the last six to 12 years."
"The council will be disposing of sections in Taumarunui, Ohakune and Raetihi, two rental houses in Taumarunui and Raetihi, and seven rental units in Owhango. There has been a good level of interest in all the properties," she said.
All the council property for sale has been deemed surplus to requirements. Council is disposing of the empty sections, as it has no operational use for this bare land.
After the sale of the sections council will still retain a significant portfolio of reserve land classified under the Reserves Act 1977.
The rental units in Owhango were previously under the Pensioner Housing Activity. In 2004 the property was transferred to the council's Investment Activity.
Mrs Hawthorne said that the Owhango units have suffered from low occupancy rates in recent years as pensioners have found living in Owhango to be too isolated especially if they are on their own.
