22 Jan 2015

Rent forces tribal body out of Te Wharewaka

12:35 pm on 22 January 2015

The business side of Taranaki Whanui in Wellington has abandoned its base at the high-profile Te Wharewaka o Poneke on the capital's waterfront.

Port Nicholson Block Settlement Trust said the office rent was too high, and had instead moved into one of its investment properties.

Chair of the trust Neville Baker said the decision was part of the body's strategy to reduce debt and get back in the black.

He said they were paying a large rental at the wharewaka and they needed to shift to somewhere they could afford - a building they owned.

Neville Baker estimated there had been a 200 percent drop in what they paid in rent.

Te Wharewaka o Poneke was developed using a mix of Crown and Maori money, including a loan from Port Nicholson Block Settlement Trust.

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