Police sitting on empty properties worth millions

Police sitting on empty properties worth millions
One of the vacant police properties, valued at $2.5 million, at 56 St Heliers Bay Rd.
Brent Melville
The New Zealand Police says it has no plans to sell its vacant properties despite the ongoing housing crisis.The housing issues, driven by frenzied investor and first home buying on the back of record low-interest rates, as well as thousands of Kiwis returning home since the covid pandemic, have highlighted the lack of available housing stock.Meanwhile, the NZ Police, which last year reported a property portfolio valued at just north of $600 million across 487 owned and 79 leased sites, is currently sitting on nine shuttered buildings...

More Property

Developers’ bankruptcy battle enters fourth year
Property

Developers’ bankruptcy battle enters fourth year

No love lost between Tim Edney and Neville Mahon. 

Victoria Young 12 Apr 2024
Wellington council picks Precinct for major civic square project
Property

Wellington council picks Precinct for major civic square project

Firm will fund and build the new five-star green building.

Staff reporters 11 Apr 2024
Govt set to roll back Labour's tenancy law changes
Property

Govt set to roll back Labour's tenancy law changes

Bill will reintroduce 90-day no-cause periodic-tenancy terminations.

Staff reporters 11 Apr 2024
The macroeconomic factors reshaping retirement
Economy

The macroeconomic factors reshaping retirement

There are reasons Summerset is outperforming Ryman. Some are chance, others are not.

Gregor Thompson 05 Apr 2024