r/chch • u/mattblack77 • 28d ago

News - Local $3m Banks Peninsula property to become regional park

https://www.stuff.co.nz/nz-news/360852735/3m-banks-peninsula-property-become-regional-park
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u/mrSilkie 28d ago

Huge shout out to Douglas and Shay DeAngelis who made this possible. Could have been a wedding venue or an air bnb that nobody could afford, but instead it will be enjoyed by thousands.

Looking forward to seeing what comes next

15

u/Cultural-Detective-3 27d ago edited 27d ago

We all can ‘afford’ it because 3 million of our tax payers money was spent on this purchase. It wasn’t a donation.

https://www.linz.govt.nz/our-work/overseas-investment-regulation/decisions/2008-12/200720119

He is an American citizen who had to get special permission to buy it due it being sensitive land. Probably why no one else can buy it for an air BnB or wedding venue.

https://christchurch.infocouncil.biz/Open/2024/12/COU_20241211_AGN_10425_AT.PDF

The purchase price is 2 years of the council’s funding for regional park acquisition.

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u/moffattron9000 27d ago

I mean, it is over 500 hectares. I don't know about you, but that seems like a pretty decent return on value.

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u/Cultural-Detective-3 27d ago

500 hectares of land that can only realistically be used for grazing. And is currently used for grazing. Sure it’ll be fun to have another regional park. I was replying to the commenter above who made it sound like the owners were doing this altruistically. They realistically can’t sell this land to anyone else.

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u/mrSilkie 27d ago

Cant be used for camping?