logo
Whanganui council secures demolition consent for former St George's School building

Whanganui council secures demolition consent for former St George's School building

NZ Herald29-04-2025

Although the resource consent had been granted, 'no decision has been made on the site's future'.
For most consents related to demolition, the holder has five years to implement them.
The former school at 125 Grey St was built in 1927.
St George's moved to the Whanganui Collegiate campus in 2011 after a decline in student numbers.
According to the council's heritage inventory, the 'substantial two-storey school' was designed in the neo-Georgian style.
'The base of the building is brick with the upper floor in rough cast render.
'Between the two north-facing wings is a more modern single-storey building forming an entry to the school facing Grey St.'
O'Hagan said the council's assessment and resource consent did not apply to the newer administration building and the early childhood centre (Whanganui Y-Kids Early Learning Centre) at the southern corner of the site.
The buildings at Grey St were bought from the YMCA by Whanganui District Holdings - the council's financial arm - in 2019 in a joint partnership with Te Ngakinga o Whanganui, as a location for classroom aviation training through the New Zealand International Pilot Academy (NZICPA).
In 2019, Holdings did not reveal how much the buildings were bought for because of commercial sensitivity, and the council did not provide a figure when asked this week.
NZICPA used some of the buildings from the second half of 2019 until June 2021.
Ownership of the site has since transferred from Whanganui District Holdings to the council, with Holdings currently in the process of disestablishment.
Former Holdings board chairwoman Annette Main said the joint partnership with Te Ngakinga o Whanganui ended in 2020, after the outbreak of Covid-19.
Advertise with NZME.
'Things came to a sudden halt because the world was closed down and there was no way to get the students we relied upon to get a return on that investment at St George's,' she said.
'A major opportunity to develop the flight school was lost.'
A council spokesperson said the only occupied building included in the resource consent for demolition was a two-storey classroom block built in 1969, which was currently used by the YMCA.
Whanganui Mayor Andrew Tripe said his father and sister attended the school, and his father served as head boy.
Many people had connections to St George's but the buildings had been mostly vacant for several years 'and we need to do something', he said.
'There comes a point where we have to consider all options.
'We are looking at ways to better utilise our assets as far as maximising a return.'
Tripe said it remained a 'desirable site' because of its location.
'Whanganui is doing its best to retain heritage where we can, and it's a real point of difference for us but we need to be pragmatic about what this site holds for the future.'
St George's School declined to comment on the council's resource consent.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

What You Need To Know If Your CV Is Less Than You Owe On Your Property
What You Need To Know If Your CV Is Less Than You Owe On Your Property

Scoop

time31 minutes ago

  • Scoop

What You Need To Know If Your CV Is Less Than You Owe On Your Property

Many property owners have seen the capital value of their properties drop in the past week. , Money Correspondent Many Auckland property owners have seen the capital value, or CV, of their properties drop in the past week. Valuations have been updated for the first time since 2021, when New Zealand's property market was hitting post-Covid heights. The new CVs are dated to mid-last year, and typically dropped 9 percent, on average. For some buyers, particularly those who purchased recently, that's been uncomfortable reading. But mortgage advisers say, in general, the CV of a property doesn't matter a lot to lenders. While a drop in value would decrease an owner's equity in a property on paper, they say lenders rely on other methods to determine a property's value and the owner's stake in it. 'It's yesterday's news,' said David Cunningham, chief executive of Squirrel. He said while people might look at a property's CV because it was public information, it was no longer used in calculations for a mortgage. 'In the old days it was but you know now you've got all these models from Cotality and Valocity and so on – and you can go on to or One Roof and find a pretty damn good valuation. They've got the benefit of being pretty much real time.' He said people did not need to worry even if their CV showed they now owed more than their home was worth. He said banks talked about home loan customers being 'delinquency managed' which meant that it was only if they stopped paying their home loans that the bank would investigate. Borrowers who were facing trouble with repayments should talk to the bank before that happened, he said. Some borrowers are paying low-equity premiums because they took out loans with less than 20 percent deposit. These margins can be removed once the loan is paid down, or the value of the property increases to the point where the owner has 20 percent equity. But Cunningham said the new CVs would not affect that process either. People who had built up enough equity to have the margin removed would typically be using banks' desktop valuation data to do so. 'Registered valuations might come into play if it's an unusual property or in an area where there aren't a lot of property sales. So some of the more provincial locations and properties … but for major centres the valuation models, called AVMs, automated valuation models, are what the bank uses.' Glen McLeod, head of Link Advisory, agreed banks would usually use desktop valuations to get an idea of the value of a property, or a registered valuation in situations where it was necessary to be precise about a value. 'If you have a sale and purchase agreement for $850,000 and the registered valuation comes in at $850,000 that's what it's worth even if the CV is $750,000.' Loan Market mortgage adviser Karen Tatterson agreed CVs were rarely used by banks to assess loan-to-value ratios, if ever. She said the problem was that CVs were quickly out of date. 'The Auckland Council CVs that were released yesterday are based on a value ascertained approximately a year ago so they are already out of date and do no reflect the true 'market' value of the home.'

What You Need To Know If Your CV Is Less Than You Owe On Your Property
What You Need To Know If Your CV Is Less Than You Owe On Your Property

Scoop

time4 hours ago

  • Scoop

What You Need To Know If Your CV Is Less Than You Owe On Your Property

Article – RNZ Many Auckland property owners have seen the capital value, or CV, of their properties drop in the past week. Valuations have been updated for the first time since 2021, when New Zealand's property market was hitting post-Covid heights. The new CVs are dated to mid-last year, and typically dropped 9 percent, on average. For some buyers, particularly those who purchased recently, that's been uncomfortable reading. But mortgage advisers say, in general, the CV of a property doesn't matter a lot to lenders. While a drop in value would decrease an owner's equity in a property on paper, they say lenders rely on other methods to determine a property's value and the owner's stake in it. 'It's yesterday's news,' said David Cunningham, chief executive of Squirrel. He said while people might look at a property's CV because it was public information, it was no longer used in calculations for a mortgage. 'In the old days it was but you know now you've got all these models from Cotality and Valocity and so on – and you can go on to or One Roof and find a pretty damn good valuation. They've got the benefit of being pretty much real time.' He said people did not need to worry even if their CV showed they now owed more than their home was worth. He said banks talked about home loan customers being 'delinquency managed' which meant that it was only if they stopped paying their home loans that the bank would investigate. Borrowers who were facing trouble with repayments should talk to the bank before that happened, he said. Some borrowers are paying low-equity premiums because they took out loans with less than 20 percent deposit. These margins can be removed once the loan is paid down, or the value of the property increases to the point where the owner has 20 percent equity. But Cunningham said the new CVs would not affect that process either. People who had built up enough equity to have the margin removed would typically be using banks' desktop valuation data to do so. 'Registered valuations might come into play if it's an unusual property or in an area where there aren't a lot of property sales. So some of the more provincial locations and properties … but for major centres the valuation models, called AVMs, automated valuation models, are what the bank uses.' Glen McLeod, head of Link Advisory, agreed banks would usually use desktop valuations to get an idea of the value of a property, or a registered valuation in situations where it was necessary to be precise about a value. 'If you have a sale and purchase agreement for $850,000 and the registered valuation comes in at $850,000 that's what it's worth even if the CV is $750,000.' Loan Market mortgage adviser Karen Tatterson agreed CVs were rarely used by banks to assess loan-to-value ratios, if ever. She said the problem was that CVs were quickly out of date. 'The Auckland Council CVs that were released yesterday are based on a value ascertained approximately a year ago so they are already out of date and do no reflect the true 'market' value of the home.'

What You Need To Know If Your CV Is Less Than You Owe On Your Property
What You Need To Know If Your CV Is Less Than You Owe On Your Property

Scoop

time5 hours ago

  • Scoop

What You Need To Know If Your CV Is Less Than You Owe On Your Property

, Money Correspondent Many Auckland property owners have seen the capital value, or CV, of their properties drop in the past week. Valuations have been updated for the first time since 2021, when New Zealand's property market was hitting post-Covid heights. The new CVs are dated to mid-last year, and typically dropped 9 percent, on average. For some buyers, particularly those who purchased recently, that's been uncomfortable reading. But mortgage advisers say, in general, the CV of a property doesn't matter a lot to lenders. While a drop in value would decrease an owner's equity in a property on paper, they say lenders rely on other methods to determine a property's value and the owner's stake in it. "It's yesterday's news," said David Cunningham, chief executive of Squirrel. He said while people might look at a property's CV because it was public information, it was no longer used in calculations for a mortgage. "In the old days it was but you know now you've got all these models from Cotality and Valocity and so on - and you can go on to or One Roof and find a pretty damn good valuation. They've got the benefit of being pretty much real time." He said people did not need to worry even if their CV showed they now owed more than their home was worth. He said banks talked about home loan customers being "delinquency managed" which meant that it was only if they stopped paying their home loans that the bank would investigate. Borrowers who were facing trouble with repayments should talk to the bank before that happened, he said. Some borrowers are paying low-equity premiums because they took out loans with less than 20 percent deposit. These margins can be removed once the loan is paid down, or the value of the property increases to the point where the owner has 20 percent equity. But Cunningham said the new CVs would not affect that process either. People who had built up enough equity to have the margin removed would typically be using banks' desktop valuation data to do so. "Registered valuations might come into play if it's an unusual property or in an area where there aren't a lot of property sales. So some of the more provincial locations and properties … but for major centres the valuation models, called AVMs, automated valuation models, are what the bank uses." Glen McLeod, head of Link Advisory, agreed banks would usually use desktop valuations to get an idea of the value of a property, or a registered valuation in situations where it was necessary to be precise about a value. "If you have a sale and purchase agreement for $850,000 and the registered valuation comes in at $850,000 that's what it's worth even if the CV is $750,000." Loan Market mortgage adviser Karen Tatterson agreed CVs were rarely used by banks to assess loan-to-value ratios, if ever. She said the problem was that CVs were quickly out of date. "The Auckland Council CVs that were released yesterday are based on a value ascertained approximately a year ago so they are already out of date and do no reflect the true 'market' value of the home."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store