Auckland commercial property developer Ted Manson has recently built some high rise buildings containing small CBD apartments.
A number of these he’s allocated to a 15 year lease to the state at a discounted rental, as a charitable gesture (to the taxpayer).
Manson has given a lengthy interview to the New Zealand Herald about philanthropy.
He is quoted thus; “Not enough wealthy people give enough back. If all the well-off people here spent time and money helping those less well-off, New Zealand wouldn’t have such a divide between rich and poor”.
Ted, take notice. I know many wealthy people. All are philanthropic, many to degrees, by a country mile way beyond your efforts.
Where they differ from you is they don’t feel the need to ring the news media and tell them about it.
If you need publicity you are a gong seeker and or a hypocrite.
I would suggest the 15 year lease allowed him to secure the finance on the rest of his buildings.
Government are bound to be paying over the odds rental anyway, so hardly a gift.
This lot peddle the wares to property syndicators, who suck in mum and dad investors on the promise of a great return; yeah right.
No charity here.
Very true Sir Bob, philantrophy should be done for the right reasons not for publicity.
Yes the definition of rich in this time of social equality is… ” you have more than me, (don’t care how hard you worked for it); i’m better than you therefore you need to give your “more” to me and my friends….because i’m better than you ! look here see …I have a certificate thats says I’m better than you….so give it to me”.
Perhaps we should have a ministry of kindness to decide how “kind” certain types…need to be !..(possibly already known as the IRD).
The leases are not for a 15 year period but are for a 25 year term to the Government. The rentals are not discounted they are 110% of market – the extra 10% to cover outgoings. The rents are reviewed annually plus 2.5%.
Hardly the definition of philanthropy.
Not much different to Foundations, which are nothing more than massive tax dodges ultimately resulting in huge increases in personal wealth for the creators of the Foundation. Cynical? You bet!
Like The Helen Clarke Foundation?
In a similar situation once said in my company by a horrified ,respected businessman and philanthropist”with a touch of despair about a close family member “Why do they have to show it ?”
Its all about ME these days and they dont get it that true philanthropy is anonymous
I went to school with Ted many years ago,he was a good man.I am led to believe his foundation does a lot of good work.