Property

Police sitting on empty properties worth millions

Brent Melville
Wed, 17 Mar 2021

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

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