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First steps taken to redevelop downtown Auckland

First steps taken to redevelop downtown Auckland

Auckland Council has agreed in principle to negotiate the sale of Queen Elizabeth Square to Precinct Properties New Zealand Ltd in return for proceeds being used to provide quality downtown public spaces.

The square and the Downtown Shopping Centre sit above the route of the twin rail tunnels that will form part of the city rail link.

Precinct Properties proposes major redevelopment of its the shopping centre and surrounding properties which it owns.

Proceeds from the commercial sale of the 2000m2 public square could be used to develop an alternative public area, such as Admiralty Steps on the Quay street waterfront.

A plan by Precinct Properties for the comprehensive redevelopment of its property holdings in the area has also opened an opportunity to reintroduce aspects of historic Little Queen Street which was lost in earlier redevelopments.

Council staff believe Precinct Properties' plans will also link with council proposals for the transformation of Quay Street waterfront.

"We are in the very early stages of proposals for this area," said Deputy Mayor and Auckland Development Committee chair Councillor Penny Hulse. "With the city rail link tunnels running below Precinct Properties buildings, it makes sense to align the tunnel construction with the company's development programme.

"Working with the company will produce the best outcome for all parties, including new public amenities at no cost to ratepayers."

Ends

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