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Trust Transfers $12 Million Lake Hood Property to the Ashburton Community

 

This week, the Ashburton Aquatic Park Charitable Trust (AAPCT) finalised the transfer of Lake Hood and the surrounding reserve land, some 147 hectares valued at over $12 million, to the local Mid-Canterbury community. Following the deduction of the remaining Debt, this represents a significant $11 million gift to Ashburton.

 

Acting for the community, the Ashburton District Council will now have free title to the existing Lake and surrounding recreational land. The additional land required for the Lake Hood extension project which incorporates both residential and lifestyle property development, has also been purchased this week by the joint venture partnership, Lake Hood Extension Project (LHEP) Limited. LHEP is a joint venture involving AAPCT, Ashburton Contracting Limited and Riversdale Park Development Limited.

29th June
2012

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