RSA `yes' to multi-million property deal

The Tauranga RSA has agreed to sell its Cameron Rd property to the Bay of Plenty District Health Board and plans to buy and convert Fahy's Motor Inn and Family Restaurant into its new premises.
It was announced yesterday that heads of agreement had been reached between the RSA and the health board for the purchase of the RSA property on Cameron Rd.
Three tenders were received for the RSA land, which covers 15,480 sq m and includes a large clubhouse, two outdoor bowling greens and 31 retirement units.
The property has a 2006 capital valuation of $4.91 million, including a land value of $543,000.
It had housed the Tauranga branch of the RSA for 50 years, with members voting last November to sell the property.
Gil Beadle, spokesperson for Bayleys Real Estate, said while an agreement had been reached in principle the transaction needed government approval for the district health board to proceed with the purchase and that was unlikely to be confirmed before early next year.
The RSA's agreement to purchase Fahy's Motor Inn from Tony Fahy required the agreement between the RSA and the health board to become binding.
The health board yesterday declined to comment on the matter and Tauranga RSA manager Graham Howard said he was restricted as to how much he could say because the sale still needed government approval to go ahead.
If all went to plan, the club hoped to move into its new premises by the middle of next year.
It would use the "majority" of the existing motor inn buildings but some minor renovations would take place to "suit the club environment", Mr Howard said.
There would be no bowling greens put in at the site, because of cost.
"There are enough bowling greens in Tauranga anyway," Mr Howard said.
Mr Howard said the Tauranga RSA's 2400 members had been "very positive" about the news and had no problems moving out to Greerton.
Mr Fahy said he had been approached by a real estate agent to sell his property and after careful consideration and talks that spanned up to five months he opted to farewell the business he had owned for close to two decades.
The busy, community-minded publican moved to Tauranga 41 years ago for a change of scenery and with a view to buying a restaurant.
But he instead bought the Erinlea catering company.
After a stint as manager at what is now Bureta Park, Mr Fahy bought the motor inn at Greerton and revamped it.
He joked the business had always been for sale, as everything in life was for sale ``at a price' _ but added the decision had been made easier by the fact he wanted to retire.
Mr Fahy, who described his age as "closer to 80 than 70", said it was a hard call, but he was looking forward to more free time.
"I do have my moments. It probably won't hit me until I move on, but the day comes for everybody ... I'm looking forward to playing golf and the nice things in life ... and a few things I've put off for 18 years, while working 12 to 15-hour days, seven days a week." Mr Fahy said his staff of 26 would be able to stay working at the premises if they wished.