Carisbrook properties, and shed, sold

Carisbrook in its former glory. Photo / Mark Mitchell Photo / Mark Mitchell

The majority of one of three parcels of land at Dunedin's Carisbrook Stadium has been sold, with the city council securing a return of about $700,000.

The council this week confirmed the figure for six houses and one shed in Burns St. That left two houses to be sold, council property manager Robert Clark said.

The land was formerly owned by the Otago Rugby Football Union and, along with the stadium and the car park next door, sold to the council in 2009, once the Forsyth Barr Stadium became a certainty.

The Burns St properties have a rateable value of more than $1 million, and were not seen as a big rental earner for the council. Mr Clark said he understood there were no particular plans for development at the site, with buyers holding on to the properties.

He also said the much-debated $1m paid for the properties was not a "scientifically'' developed figure.

The issue hit the headlines recently, after it was noted in its annual report of 2009, the union said it sold Carisbrook to the council for $6m, not the $7m generally understood.

Sale and purchase agreements for Carisbrook obtained by the Otago Daily Times showed Carisbrook was sold to the Dunedin City Council for $6m.

The other $1m was for the purchase by the council of the residential buildings in Burns St from the Property Holdings Charitable Trust.

The ODT reported in 2007 the ORFU had gifted the Burns St homes to the trust as the first step in a process that would eventually include the gifting of Carisbrook to a trust, something that did not happen.

Mr Clark said the $7m was split between the union and its trust.

"We just made the split. At the time there was no science behind it.''