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...

Try free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
A custom library of your saved stories
An industry-leading search engine
Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Support quality New Zealand journalism by subscribing today.

Find out more

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Opinion

Your regulator expects: fund fee facts from the FMA

David Chaplin | Wed, 14 Apr 2021

The new inflated compliance regime will come at a cost – but to who?

Travel

Ski season could be another 'fruit rotting' moment

Brent Melville | Wed, 14 Apr 2021

The opening of the trans-Tasman bubble, while welcome, will be a tough one for hotels and ski operators as they deal with a critical lack of staff.

Opinion

'That' letter from the govt to Air NZ: what's really in it?

Pattrick Smellie | Wed, 14 Apr 2021

There is a lot of nuance packed into Grant Robertson's new 'letter of expectations' to Air NZ, none of it unreasonable for the airline's majority shareholder and its ultimate guarantor.

Partner Content

Highlights from the New Zealand company earnings season

The February earnings season has provided a snapshot of the impact covid-19 has had on different sectors over the last six months and expectations for the year ahead.

Police sitting on empty properties worth millions

Not convinced yet?

Your company has a subscription

Team