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

Gordon Campbell:
On The Kim Regime

During the Cuban Missile Crisis, the US had a very clear objective and eventually offered a quid pro quo of the removal of some of its own missiles from Turkey. This time, there’s no clarity about what the US is seeking, or offering.

It hasn’t helped that the US and the global media consistently agree on calling North Korea and its leadership “crazy” and “irrational” and urging it to “come to its senses”. When you treat your opponent as being beyond reason, it gets hard to comprehend what their strategy is, let alone work out the terms of a viable compromise. More>>

 

Recovery: Economic Impact Of Kaikōura Quake Revealed

The report details the impact on small businesses and tourism caused by disruptions to transport infrastructure and the economic impacts... The impact on New Zealand’s Gross Domestic Product (GDP) over the first 18 months following the earthquake has been estimated at $450-$500 million. More>>

ALSO:

Human Rights Commission: Urgent Need For Action On Seclusion And Restraint

Chief Human Rights Commissioner David Rutherford says that while the report makes for sobering reading, the focus should now be on how the recommendations can be used to reduce the occurrence of seclusion and restraint in New Zealand and, in circumstances where it is necessary, to improve practices. More>>

ALSO:

CORRECTIONS (March 2017):

SCHOOL SECLUSION ROOMS (2016):

$11bn Capital Spend, New Debt Target: Steven Joyce On Budget Priorities

First, delivering better public services for a growing country – providing all New Zealanders with the opportunity to lead successful independent lives... And finally, we remain committed to reducing the tax burden and in particular the impact of marginal tax rates on lower and middle income earners, when we have the room to do so. More>>

ALSO:

JustSpeak Report: Bail Changes To Blame For New Billion Dollar Prison

In 2013 criminal justice spending was falling and the Government was mulling over what to spend the money on. 3 years later there are 10,000 people in prison and a new billion dollar prison is announced. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news