No end for Rainbow theme park

DEAL: Rainbow's End has reached a lease agreement with Manakau City Council, ending five years of uncertainty

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New Zealand's largest theme park, Rainbow's End, has extended its lease with the Manukau City Council until 2034 - albeit with some changes in the agreement.

The amended agreement, concluding five years of negotiations, gave the council part of the fun park's land to extend the Manukau District Court house, as well as a re-investment agreement of $3 million from last June to 2027. 

The park, operated by New Zealand Experience, would continue to pay rent on the same basis - handing over a percentage of its takings.

``While Rainbow's End would have preferred not to have to surrender any existing land, the inclusion of additional adjacent land and plans to redevelop some of the existing park area will provide sufficient capacity to continue to extend the offerings and range of attractions at the park,'' New Zealand Experience director Dave Lock said.

As a result of the agreement, the company would have to move its Power Surge ride, and have to change where it would put its new Invader ride though it would be compensated for this, he said.

- NZPA