Cornwall Park Leaseholders Association Inc (CPLA) was established in 2006 in response to alarming lease increases being proposed for Cornwall Park leased properties.
Today the Association represents around 110 ‘ordinary’ New Zealanders who bought leasehold land and currently have leases with the Cornwall Park Trust Board (CPTB). However rents and the Glasgow lease are now unsustainable.
Sign our petition, asking for Parliament to make lessors like Cornwall Park give compensation for improvements (houses) like the Lusk report proposed.
It’s time Cornwall Park stopped forcing families out of their homes; charged fair market ground rent; and paid market valuation for homes.
Unsustainable
Some leaseholders with beautiful homes they built or restored will walk away with very little because it makes no financial sense to pay exorbitant rents the Trust Board want.
Unlike commercial landlords there is no negotiation. The CPTB prefers expensive arbitration or litigation to enforce the 100-year old lease. The only option leaseholders have, is to sign up for a 21-year commitment to these rents, or forfeit to the Trust Board and walk away from their home and improvements.
The Lease isn’t working anymore
The Association (and its member residents) say that the current lease is not working for either lessees or CPTB. The failings of the lease document result in the following:
Rent shocks. The current lease creates massive `rent shocks’ as lessees struggle to pay new rent obligations of 5% of land value every 21 years.
Lessees can’t sell properties.
Lack of investment in properties
CPTB loses income
To date, more than 20 leasehold properties have been abandoned (1 in 6 leaseholders) with no compensation to lessee families given by CPTB for the homes they have acquired.
