Police sitting on empty properties worth millions

One of the vacant police properties, valued at $2.5 million, at 56 St Heliers Bay Rd.

Wed, 17 Mar 2021

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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology

A software bet in quantum computing

Venture-backed Classiq raises US$110 million at a roughly US$500m valuation.

The Wall Street Journal 11:25am

The Quiz Free

QuiznessDesk, Wednesday, May 14

Can you beat the Quizmaster?

The Quizmaster 9:15am

Economy

US-China tariff deal eases risks, Budget 2025 remains tight

Economists remain firm in their view that Budget 2025 will be lean.

Rebecca Howard 5:00am

US-China tariff deal eases risks, Budget 2025 remains tight

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Property

Property

Summerset launches $100m bond offer

Summerset Group has launched a six-year bond offer to fund the repayment of previously issued debt. The retirement village and aged care company told the market on Monday that it is raising up to $100 million, with the potential to accept an additional $50m in oversubscriptions. ...

Staff reporters 12 May 2025