Auckland Council's masterclass in mismanaging asset sales

Auckland Council's masterclass in mismanaging asset sales
Hoping to plug a massive $1 billion revenue gap, 20 reserves are up for sale including Aberfeldy Park.
Damian Light
Asset sales are always a controversial topic, even more so when the asset being sold is a public park. It’s no surprise that emotions will run high when the local park is on the chopping block, so the process must be managed carefully. Unfortunately for Tāmaki Makaurau, Auckland Council has provided us with a masterclass in what not to do. Hoping to plug a massive $1 billion revenue gap, 20 reserves are up for sale and Panuku Development Auckland is the council-controlled organisation (CCO) responsible for managing the proc...

More Property

Auckland council on the hook for $150m building claim
Property

Auckland council on the hook for $150m building claim

Justice Tracey Walker heard the case from May to October 2022.

Staff reporters 26 Mar 2024
Winton's Wynyard: for the wealthy and well-heeled
Property

Winton's Wynyard: for the wealthy and well-heeled

Big balconies take advantage of the harbour and historic quarter views. 

Brent Melville 26 Mar 2024
Funds cut payments, hive off assets to survive, until better times come
Property

Funds cut payments, hive off assets to survive, until better times come

Property syndicators forced to sell their owned properties into a buyers market.

Brent Melville 25 Mar 2024
Build-to-rent 'doesn't work', but it needs to
Property

Build-to-rent 'doesn't work', but it needs to

Institutions say it's a tough sector given regulatory and tax settings.

Brent Melville 22 Mar 2024