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7 comments:

  1. KB, 13. October 2015, 12:22

    I don’t get it. We don’t know the figure Willis Bond is paying upfront – but I doubt it will be anywhere near the commercial value of 125 years of lease rental from a prime waterfront site. I doubt it would even be anywhere near the same as the revenue generated from the campervan park.

    Why does the council have the right to make these one sided deals? Isn’t it fiscal malfeasance? I’m sure Willis Bond would have happily paid a commercially acceptable annual rental for this building space – what is the rational for the council to make it so easy? Is the council that desperate for lump sum payments at the cost of future forgone revenue? Why?

    This is the same council which is supposedly developing a business case for a longer runway. They obviously fail spectacularly when it comes to a business case for giving away waterfront property rights.

     
  2. City Lad, 13. October 2015, 21:35

    Sorry KB. Willis Bond would not “happily pay” an annual rental for this prime waterfront land. They are too smart to volunteer anything more than a minuscule one off payment. It’s a gold mine for them. And city folk will be able to admire the PWC logo glaring down on them. Especially when lit up at night.

     
  3. Trish, 14. October 2015, 11:19

    That’s a great artist’s impression of a beautiful office building and the lovely clouds. I can’t work out if it is supposed to be sunset or dawn with the sun coming up over Newlands. But I just love the glowing light in the restaurant beneath the overhang where I thought it would be cold and shady. Anything’s possible in the imagination.

     
  4. Island Bay Rules, 14. October 2015, 21:40

    Talking about cheap leases, you don’t have to be a Willis or a Bond. Our community lost the full use of the Surf Club in Island Bay to a lease of 10 years to the Marine Education Trust. The exterior is maintained by the council including damage caused by vandalism or storms. Proceeds from functions and/or club room hire, managed by Victor Anderlini and Judy Hutt, are shared between them and the council after cleaning costs have been deducted. Annual rent: $250

     
  5. Phil C, 14. October 2015, 23:22

    Well, it’s either commercial incompetence by the council or backhanders. I wonder what the other terms of the lease are. Sorry Wellington ratepayers, your council is letting you get screwed. But at least Wellington has one of the top ten nicest mayors in the world, or something.

     
  6. Nora, 15. October 2015, 9:54

    Are PWC paying Willis Bond to have naming rights for the building?

     
  7. City Lad, 17. October 2015, 13:53

    Willis Bond will be paid substantially by PWC for naming rights. Another trip laughing all the way to the bank.

    Mark McGuinness’s statement to the DomPost implying that after 125 years the council will own the land and building is misleading. An extension can be granted to whoever owns the building at that time. The car park basement could be used as a swimming pool. It would be filled with sea water well before then.