The total value of land around Awatea and Parry Sts required for the new Dunedin stadium is $15 million, based on Quotable Value New Zealand figures released last year.
The Carisbrook Stadium Trust this week signed up the last of the landowners, leaving only one leaseholder yet to come to an agreement, but figures have not been released.
A budget for the land was included in a report early last year, where $22.2 million was allowed for land costs, trust costs and development contingency.
Carisbrook Stadium Trust chairman Malcolm Farry said yesterday he could not confirm that budget.
He did not want to comment on the price that would be paid for the land.
‘‘It's proper to state any broker or real estate agent would tell you rateable value almost invariably gives little guidance to sale and purchase price of commercial property.''
The Carisbrook Stadium Trust has not only to buy the land, but find alternative sites for businesses with leases there.
The Quotable Value figures for all of the Dunedin property market showed an average increase since 2004 of 34% for commercial property, 38% for industrial property, and 36% for residential.
While the cost of land acquisition was estimated at more than $33 million in a Dunedin City Council report on March 17, both council chief executive Jim Harland and Mayor Peter Chin said on Tuesday there had been a considerable change to the figures in the past few days.
They would not release the figures.
