Watlington 'For Sale' sign goes walkabout

NATASHA MARTIN/Timaru Herald

OPPORTUNITY KNOCKS: A 1.0720ha field, bordering a car park at Aoraki Polytechnic, which has just gone on the market, could attract interest from developers.

Relevant offers

The waters surrounding the sale of Watlington Intermediate have been muddied by the disappearance of the "For Sale" sign outside the school.

So far the Ministry of Education has failed to sell the property, which went on the market after the Labour government's 2003-2004 schools review led to Watlington Intermediate's closure.

An initial price tag of $2,435,000 plus GST was dropped to $2 million early this year, but at least one prospective buyer said the lowered price tag was still unrealistic.

Timaru Christian School was interested in buying the property to cater to its rapidly expanding school role.

Principal Shaun Brooker told The Timaru Herald yesterday he understood the Crown had lowered the asking price for a third time and had offered the property at a new rate to Ngai Tahu. If Ngai Tahu was not interested in the property, he expected the school to be relisted after four weeks.

However, he did not believe the new price was significantly different to the $2m price tag.

The school's sale is being handled by property services company DTZ, who declined to comment yesterday and directed the Herald's inquiries to the Ministry of Education, who were unable to answer any questions at short notice last night.

Meanwhile another high profile piece of Timaru land owned by the Crown has gone on the market.

A field bordering the Aoraki Polytechnic car park and State Highway 1 was listed for tender on November 14.

The property is listed on realestate.co.nz as a "uniquely large site offer[ing] many development options". Tenders close on December 18 and offers under $540,000 plus GST – the price previously offered to Ngai Tahu – would not be considered.

The sale is also being handled by First National Timaru agent Peter Wilson for DTZ.

Du Velle Properties, to develop a Mitre 10 Mega store in Timaru next year, has expressed interest in the sale. Company director Geoff Taylor said he did not know yet if the price was right to consider putting in a tender.