Lessees' freehold hopes dashed
Hundreds of West Coast leaseholders facing big rent increases have been given almost no chance of freeholding their Maori-owned sections.
Tuesday, March 23rd 2004, 12:36AM
by The Landlord
Mawhera chairman Maika Mason said shareholders at the last annual meeting had responded by refusing to sell any of their land.
Mawhera leases about 900 residential and commercial sections in Greymouth and Westport.
It said three years ago it was willing to consider selling some of the residential sections to lessees. It changed the status from Maori land to general land to facilitate freeholding.
An action group representing Westport lessees claims the incorporation has reneged on its promise, leaving the mainly elderly lessees in the lurch.
Mawhera Lessees Westport Action Group chairman Jack Powick said it had heard nothing for three years and so had invited Mawhera management to a meeting tonight to give a "definitive" answer.
Read More - Opens in a new window
« Property investors refocus on cash flow | Free Investment Property Showcase Events: Auckland, Wellington and Christchurch » |
Special Offers
Commenting is closed
Printable version | Email to a friend |