Former Invercargill Hospital - Disposal

This disposal project, undertaken for Land Information New Zealand (LINZ) and the Ministry of Health, required disposal of surplus commercial zoned land and buildings under the Public Works Act 1981.

This property presented unique challenges which had plagued attempts by previous LINZ Accredited Suppliers to succesfully dispose of the property. The property contained significant heritage values, owing to containing some of New Zealand’s oldest standing buildings, which required negotiation and registration by APL of a protective heritage covenant with Heritage New Zealand. Improvements were earthquake prone, contained asbestos and were deemed unsafe for entry, necessitating a sale on an as-is where-is basis without access. Despite these challenges APL was able to formulate an achievable disposal strategy, obtain realistic valuation advice and complete an open market sale with an unconditional offer received at the close of tender which was above valuation and RFR benchmark terms. As a LINZ-Accredited Supplier APL Property managed the disposal process of the property, with our services including:

• Due diligence investigations and research of existing disposal files and completed actions
• Development of the disposal strategy
• Registration of a heritage covenant in line with the disposal strategy
• Procurement of Valuation advice
• Compliance with RFR under the Ng?i Tahu Claims Settlement Act 1998
• Procurement and management of Real Estate Agents
• Evaluation and management of the sale process
• Management of settlement in conjunction with our lawyers