Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


$75 Million Cash to Fast-Track Auckland City Rail Link

$75 Million Cash to Fast-Track Auckland City Rail Link


Queen’s Wharf and Queen Elizabeth Square will remain publicly owned under a deal put forward by two Auckland businessmen to fast-track the city’s new rail link.

The kiwi entrepreneurs behind Auckland’s landmark City Works Depot precinct, James Brown, 39 of Freemans Bay, and Simon Rowntree, 39 of Orakei, have today made an unconditional $75 million cash offer for Auckland Council’s downtown car-parking building in need of an upgrade.

Mr Brown and Mr Rowntree have provided a $7.5 million deposit, able to be cashed today on acceptance, with a settlement date for the remaining $67.5 million of 1 July 2014, only 25 days from now.

The $75 million offer includes a significant premium, meaning the transaction would reduce Auckland’s Council’s operating deficit for 2014/15, allowing rates to be lower than they would otherwise be.

Mr Brown and Mr Rowntree, who also operate Tournament Parking, were motivated to make the offer after proposals were made to privatise public space, in the form of Auckland’s iconic Queen’s Wharf and Queen Elizabeth Square.

“The rail link is essential for Auckland but it’s wrong for the Council to sell public space to fund it,” a spokesperson for Mr Brown and Mr Rowntree said today. “This offer would keep Queen’s Wharf and Queen Elizabeth Square in public ownership while providing $75 million cash to kick-start Mayor Len Brown’s vision for long-awaited first-world public transport.”

Mr Brown and Mr Rowntree’s offer includes commitments to protect the interests of Auckland shoppers and commuters. Specifically, their offer includes legally binding commitments not to increase casual parking rates above the rate of inflation for at least five years, and to maintain existing free public access from the car-parking building to Customs Street West, Lower Hobson Street and Albert Street.

“These guys are born-and-bred Aucklanders, they love this city and they’re 100% behind Mayor Brown’s public rail vision,” Mr Brown and Mr Rowntree’s spokesperson said. “This deal will preserve Queen’s Wharf and Queen Elizabeth Square from foreign ownership while providing the cash to make the mayor’s vision for first-world public transport come true.”

END


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Bullish On China Shopping: Trade Minister On Premier's Visit

Q+A: Trade Minister Todd McClay – not ruling out a conversation around Chinese workers coming to New Zealand to work on infrastructure projects as part of trade talks:

‘Yeah, well, that’s not something that’s on the table at the moment, but, look, what we’ve agreed as part of the, you know, when we start the upgrade negotiation, both sides can raise issues that are of importance to them. We’ve got a list of things we want to talk about. China may well have.’ More>>

 

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Biscuit Tin Of Democracy: World Heritage Site Protection, Ombudsman and Equal Pay Bills Drawn

On Thursday, 23 March 2017 three places are available on the Order Paper for the first reading of a Member’s bill. The ballot was held, and resulted in the following bills being drawn... More>>

ALSO:

Emissions Plan: NZ Needs More Science, More Trees, Fewer Beasts

A combination of technology breakthroughs, much more plantation forestry, and a big switch away from pastoral, particularly dairy farming, are identified as the key elements of any approach New Zealand takes to reducing its carbon emissions to a net zero level, according to a new report sponsored by the New Zealand chapter of GLOBE, a multi-party, global parliamentary grouping. More>>

ALSO:

"Backed To Win Seats": Labour Māori Seat MPs Won't Stand On List

The Labour Party is backing a request from its Māori seat MPs to stand as electorate MPs only, says Labour Leader Andrew Little. More>>

OutsKey: John Key's Valedictory Speech

I rise to address this House for the very last time. It has been a huge privilege to have served the people of Helensville as their member of Parliament, and, of course, the people of New Zealand as their Prime Minister. More>>

ALSO:

Productivity Commission: New Models Of Tertiary Education Are Coming

The report is a broad-ranging inquiry into how well New Zealand’s tertiary education system is set up to respond to emerging trends in technology and the internationalisation of education, and changes in the structure of the population, and the skills needed in the economy and society... More>>

ALSO:

PM's Press Conference: Water Everywhere

Monday's Post-Cabinet press conference focused on water, with the Prime Minister fielding questions about the possibility pricing water taken for export. Mr English said the government was directing their water allocation technical advisory group to include export water in considerations. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news