Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Aucklanders Prefer Sale of Car-Park Over Queen Elizabeth Sq

Aucklanders Prefer Sale of Car-Park Over Queen Elizabeth Square


The two kiwi businessmen who have made an unconditional offer of $75 million cash to buy a downtown car-parking building from Auckland Council will meet with Auckland Mayor Len Brown and senior council officers on Monday morning to discuss their proposal.


The offer, by the Auckland entrepreneurs behind the city’s landmark City Works Depot precinct, James Brown, 39 of Freemans Bay, and Simon Rowntree, 39 of Orakei, is $10 million above valuation and expires at close of business on Friday.


“This is an outstanding offer from the council’s perspective: cash, unconditional, with a quick settlement and a legally binding commitment not to increase casual parking prices above the rate of inflation for at least five years. It is also clearly well above valuation, as evidenced by no other property investor coming forward to match it over the last 24 hours,” a spokesperson for Mr Brown and Mr Rowntree said today.


“James and Simon are very encouraged by the mayor agreeing to meet them and their lawyers so quickly after they made their offer, and by his comments on TV3’s The Nation this morning that he is open to divesting the car-park to help fast-track his Auckland City Rail Link, which they strongly support.”


The spokesperson said Mr Brown and Mr Rowntree were also encouraged by a UMR Research poll of 500 Aucklanders that they commissioned, which indicated a majority is much more comfortable with the Council divesting the car-park to Auckland businesspeople than Queen Elizabeth Square or Queen’s Wharf to foreign investors.


The poll, carried out last week before the offer was made public, found that while Aucklanders tend to oppose asset sales, they are very much more opposed to selling Queen Elizabeth Square or Queen’s Wharf than the car-parking building.


While 62% of Aucklanders oppose selling Queen Elizabeth Square and 56% oppose selling Queen’s Wharf, only 41% oppose the sale of the car-parking building, and 32% support it.


When asked which asset they would prefer sold to help fund the rail link, 51% opted for the car-parking building, with just 21% choosing Queen’s Wharf and 15% favouring Queen Elizabeth Square.


When asked who they would be comfortable selling an asset to, 91% said Auckland business interests, 41% said they would be comfortable seeing assets sold to Australian business interests and only 28% would be comfortable with Chinese business interests.


In his comments on The Nation this morning, the mayor appeared open-minded about the process to manage the sale, although he suggested it might be protracted.


“James and Simon’s offer expires at close of business on Friday and they will not participate in a protracted process. This matter will need to be resolved this week,” the spokesperson said.


END


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news