Acquisitions

During the last financial year, the Rūnanga has made significant progress reacquiring our whenua, as envisioned through our Treaty Settlement.

A settlement between Ngāti Toa Rangatira and the Ministry of Education completed Friday 6 May, 2022 secures Ngāti Toa Rangatira’s purchase and lease back of the land of 40 public schools across the Porirua and Wellington regions. The Ministry of Education is then required to pay rent on the whenua in perpetuity, creating wealth for future Ngāti Toa generations.

Te Rūnanga o Toa Rangatira CEO Helmut Modlik says the purchase of the properties was made possible through the iwi’s Deferred Selection Properties which forms part of the broader Ngāti Toa Rangatira Claims Settlement Act 2014.

“The Ngāti Toa Rangatira Claims Settlement Act 2014 afforded us the opportunity to purchase the land of 68 public schools in Te Whanganui a Tara and Te Tauihu in recognition of Crown breaches of Te Tiriti o Waitangi and the illegal confiscation of Ngāti Toa land,” Helmut said. 

DSP School Purchase 

  • Ex Porirua Police Station – A Deferred Selection Property (DSP) agreed within the Deed of Settlement. The site was acquired as at 30 June 2022 for a slight discount at $2.87m (Market Value $3.03m) and comprises a prime redevelopment site within the Porirua City Centre. We are in the process of executing a development partnership with an NZX Listed Property Company who will be the lead developer on the site for a potential office development.

  • A former DSP which lapsed in 2016. In 2021 Ngati Toa received ministerial approval to acquire the site in a preferential sale arrangement following a valuation and negotiation process. We are currently negotiating the purchase of this whenua. It comprises a residential development site in a desirable location in southern Wellington. We have engaged with the Ministry of Housing and Urban Development (MHUD) to utilise their Land for Housing Programme to acquire the site. This would mean that MHUD acquire the site on our behalf at the agreed price, we then develop the site for mixed housing (Social, Affordable and Market) and then we pay MHUD back the original purchase price at the end of the development.

  • Ex Courthouse – A Right of First Refusal (RFR) property which comprises the former courthouse buildings which are earthquake prone. The property was purchased for redevelopment purposes due to its situation in a good location within Upper Hutt City. It was purchased based on land value only, at a discounted price 38% below the current market value.

  • Connected to our Settlement Ngāti Toa will be offered the opportunity to purchase up to 400 dwelling sites that are being redeveloped as part of the Kainga Ora led Waitangirua regeneration programme. We have recently signaled our interest in 50 Esk Place sites. Over the coming year we will conduct our due diligence on these sites which will inform whether they are purchased.

  • Comprises a large Rural zoned site of 13.2 hectares which was acquired in early 2020 as a Right of First Refusal (RFR) from Crown. The site has a number of challenges but considering its strategic location, offers a strong industrial development site once a zoning change has been implemented. In 2021 a commercial agreement was reached with an experienced Development Partner which will see Ngāti Toa retain the ownership of the underlying land in a long term prepaid ground lease and provides the Developer with the right to undertake all due diligence, feasibility and ultimately develop the site.

Other Acquisitions: