No Shelly Bay development

Stuff reports:

The Port Nicholson Block Settlement Trust has failed to get the proposed sale of across the line.

In December the trust announced it wanted to sell the land to The Wellington Company, which is headed by property developer Ian Cassels.

The proposal included additional financial incentives for the trust, such as a share of profits and first right of purchase of all residential and commercial property.

But the trust did not get the 75 per cent mandate it needed from members of the Taranaki Whanui ki te Upoko o te Ika to enable the sale of its land. results show about 26 per cent of members voted, and of those, 51 per cent voted in favour of the sale.

Members were understood to be unhappy about a lack of transparency around the deal.

Chief executive Jason Fox said an ongoing criminal investigation and court case was the key reason for lack of support. “We were hamstrung and had no room for full disclosure.”

Chairman Neville Baker said the court case had meant it had been “extremely difficult to demonstrate with complete transparency the need for the sale of Shelly Bay”.

He expected to be able to better inform members at the end of April.

It would be good if they do eventually manage to get member approval.

Shelly Bay is currently a run down eye sore with the exception of the Chocolate Fish Cafe.

It could be transformed into the best area in the city. The potential is huge with the views it has from there.

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