All land required for the Awatea St stadium has been signed up by the Carisbrook Stadium Trust, but settlement with one leaseholder remains to be achieved.
Maxton Holdings, owned by Tony Clear and John Farry, yesterday signed a contract with the trust for 8 Awatea St, directly opposite the entrance to Logan Park Dr.
Last Friday, the trust reached agreement with Calder Stewart Industries to buy land at 2 Awatea St, and it had earlier signed with Scenic Circle Hotel owners Earl and Lani Hagaman, who own the rest of the freehold land in Awatea and Parry Sts required for the stadium.
Three companies own the land, but others have leases. Trust chairman Malcolm Farry has said one leaseholder had not come to an agreement with the trust, but has not said who that is.
The ‘‘party in question'' had told the trust the terms and conditions that he required for him to sign, ‘‘so that we could at least have an offer from the vendor that we could take to the city council.
‘‘But the vendor was categorically assured that some of the conditions that he insisted be in the contract had virtually no chance of being met.''
Mr Farry said the idea the contract was final was ‘‘totally inaccurate''.
Mr Farry said earlier yesterday the contract with Maxton Holdings brought the trust ‘‘close'' to achieving wrapping up the land acquisition for the stadium. Mr Clear said his company was pleased to have been able to conclude a contract with the Carisbrook Stadium Trust in order to facilitate the development of the new stadium.
‘‘We are very happy to have played our part in this very important Otago project.''
Mr Farry said the negotiations were sometimes long and difficult, as each party sought to protect the interests of its stakeholders.
