8 Dec 2009

Hope expressed that lakeside development will go ahead

6:41 am on 8 December 2009

A Taupo Maori trust hopes a lakeside development can now go ahead after the developer changed the way it is leasing the sections.

Rather than a rent review every seven years on the 22 Acacia Bay sections, the rent will instead go up 3.5% per year until 2028.

Andrew Kusabs from the Hiruharama Ponui Trust, which leased the land to develope the Symphony Group for 80 years, hopes that will give buyers more confidence.

He told Waatea News that an occupation by a group linked to a minority of Ngati Rauhoto landowners is now over, and their claims the land was a waahi tapu, have proved baseless.

Mr Kusabs said Hiruharama Ponui Trust needs the development to go ahead because it's missing out on income.