Wellington Earthquake Prone Buildings

[spurner]

Anyone investing in Wellington should be aware of these buildings, which have been served with notice under the Earthquake Prone Buildings Policy. I know that several of these buildings are currently for sale, with no mention of their classification, I know because I was doing DD on them...

114 Adelaide Rd
83 Constable St
132 Cuba St
158 Cuba St
236 Cuba St
280 Cuba St
24 Dee St
16 Fettes Cres
40 Ghuznee St
25 Hutt Rd
129 Jervois Quay
88 Kent Tce
18 Lorne St
21 Manchester Tce
9 Martin Sq
88 Mills Rd
9 Moxham Ave
162 Riddiford St
112 The Parade
32-42 Willis St
204-212 The Parade
279 Willis St
37-41 Hanson St
83 Park Rd
238 The Esplanade
20 Vivian St
37 Cleveland St
129 Taranaki St
29 Wigan St

This info can be provided by the WCC upon request. There are many more buildings which are going to be added to this list over the coming years...

[PeterY]

Thanks for the list. "Buyer-beware" as always - that's what DD is all about.

Question: Correct me if I'm wrong, my understanding is there wont be a published list of properties with notices issued, and not likely to be. As prospective buyers, we need to discover this information for ourselves from the council directly ?

Observation: Its always best to avoid the problem rather than rely on a clause in the S&P agreement. That said, if anyone were unlucky enough to find themselves committed to such a property after signing the agreement, there is clause 6.1 (8th edition of ADLS agreement) that requires the vendor to warrant that they have not received any notice from a government or local authority. Again, best not to get into this situation, or at least go in with eyes wide open (there could be some good buys coming).

Peter

[Paul34]

There are over 3000 buildings in Wgtn on this list!

First inspections are 2010 and depending on how they are warranted need to be fixed by 2030 at the latest.

The net effect will be rentals in Wellington will be driven through the roof due to supply shortage and replacements costs.

[spurner]

There are over 3000 buildings in Wgtn on this list!

The ones I have listed are the only ones so far that have been deemed as Earthquake Prone(AFAIK).

But there are many thousands of buildings which are due to be inspected, to deem whether they are considered to be earthquake prone or not.

First inspections are 2010 and depending on how they are warranted need to be fixed by 2030 at the latest.

Borderline cases will of course be given lowest priority and the most time to come up to scratch. But those buildings listed have already been served official notice and are really feeling the pressure from the council. The owners of 1 building applied for an extension on doing works to 2011, which was declined.

The net effect will be rentals in Wellington will be driven through the roof due to supply shortage and replacements costs.

Yes everything looks and feels rosy in Wellington City area; no more land and nowhere to expand to, increased building and compliance costs, tightening heritage and subdivsion rules, increasing traffic encouraging people to rent in the City, rents have recently been and will rise quicker than they have in the past I feel.