Porirua City Council has sold 24 units in Titahi Bay’s View Road to Te Runanga o Toa Rangatira Incorporated (Ngāti Toa) for $10 million (including GST).
The decision to sell was made by the full Council at a meeting last Thursday after weighing up two substantive offers, taking into account the offer amount, conditions and settlement timing. The offer accepted was unconditional, with a settlement date of 30 June 2021.
The units, which have weathertight defects, were sold "as is, where is". Eleven of the units have recently been refurbished and meet healthy rental standards.
Porirua Mayor Anita Baker said the result was a positive end to what had been a long and thorough process.
"This is a good outcome and we look forward to seeing these properties occupied again soon, providing much-needed housing in Porirua City."
21 Jun 2021