An offer DOC could refuse

The Herald reported:

Another slice of Kiwi coastal paradise could be headed for the open market after the Department of Conservation turned down the chance to buy it. …

The family said they would not take less than $15 million, which Elliot said was a discount on the $20m-plus they believed the holding was worth.

The best way to find out what something is worth, is a competitive tender or auction.

But turned down the offer, meaning the property will now go on the open market, likely early next year, Elliot said.

“Everyone in the family wants to see it left as it is. That’s why we went to DoC. I’m interested in the public response. If this beach is closed there will be a public uproar.”

Sounds a bit like trying to pressure DOC to pay the price wanted.

Elliot did not know what price the property would fetch on the open market. It has a Government valuation of $6m-$8m.

Now GVs don’t mean a lot sometimes, but the “discount price” is double the GV.

But he believed the sale of a Helena Bay site 27km away to Russian billionaire Alexander Abramov for $15.9m had set a “benchmark for the area”.

Possibly, but only for Russian billionaires.

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