A new lease agreement has secured the future of the Belt Road Seaside Holiday Park until at least 2045.
On August 30, park managers Kevin and Teresa Bowe signed a 33-year lease with the New Plymouth District Council which came into effect on September 1.
After years working with the council to make the lease deal a reality, Mrs Bowe said it was a major achievement.
In 2009 NPDC undertook a camping ground review on the six grounds it owns.
Back then Mrs Bowe said all the camping grounds should operate on the land-only lease and that selling the buildings and infrastructure would save council money on maintenance and depreciation costs.
Now her wish has come true.
The new lease changed from being a land and assets lease to a land only lease. This required the couple to buy all the buildings and assets off the council.
The couple have been at the camp ground for 11 years and the old lease was due to expire in 2019, Mrs Bowe said.
The new lease allowed the couple to develop the two hectare site and the business.
"It has been hard work and a long road but it's good for the town and it's good for our customers," Mrs Bowe said.
Over the next two years $500,000 of work would be carried out on a new toilet block, new cabins, TV room, communal area and more powered sites, she said.
The amount the couple had paid for the assets was confidential but she did say they took out a mortgage and paid in full.
The lease was paid on an annual basis, she said.
The park, which attracted about 30,000 guest nights each year, had key performance indicators which had to be met, she said.
"I think it's a win-win relationship. It takes a lot of the pressure away from the council."
It also allowed the camp ground to run more effectively as a business, she said.
"It's a great asset for the town and it just gives us the opportunity to be able to develop that and make sure it's safe for the future and generations to come."
- © Fairfax NZ News
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