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Inside The Sun
Room for Phil Money raised for a Philip McAuslin room in Wellington Ronald McDonald House.
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un S The
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Wednesday June 15, 2011
Blenheim Marlborough
D L O S of the Artist’s impression tre. ea th w proposed ne
Glad to be home Lisa Tau’alupe talks to The Sun about her battle with a rare illness.
Page 4 Above: The Civic Theatre buildings and land has been sold to the MDC. The Theatre Trust will continue to use the old theatre until the new one is built.
Man of many talents Raynor Henson has a few tricks up his sleeve.
Page 10 Beavertown Blenheim Lions
Bride of the Year Saturday 18th June 2011 Ticket sales at The Sun office
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Theatre all go Nil holding cost for council - tenants’ rents will pay loan By Damian George Marlborough mayor Alistair Sowman says the $6 million council has agreed to pay to buy the Civic Theatre building and the surrounding block of land is “a fair price”. The Marlborough District Council made its decision to buy the land during the 2011-12 annual plan meeting yesterday, after Mr Sowman and councillors voted 8-6 in favour of the move.
The MDC has a current registered valuer’s report valuing the property at $6.24 million tenanted [$5.9m untenanted] and a Government-rating valuation of $7.5m. “It’s a fair price. I think both parties are pretty happy with the outcome,” Mr Sowman says. “I think we’ve got a good buy for the people of Marlborough.” Mr Sowman says the council will take out a loan to buy the building off the Civic Theatre
Trust, with regular instalments being made until April, 2013. A takeover date is set for September, 2012. He says the interest on the loan, which stands at seven percent, will be covered by rental payments from the three businesses that lease parts of the building - Noel Leeming, No 1 Shoe Warehouse and State Insurance. “So there will be nil cost to the ratepayer.” Continued Page 3.
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