|
Home
> Our Publications > New Zealand Outlook > 2004 > May
Auckland
harbour foreshore saved Marinas to be held by public
A HUGE section of Auckland Harbour
and two marinas have been saved from possible commercial
development.
The possibility of high rise blocks of apartments being
built overlooking the harbour has been ended by the
Government.
It has bought a large stretch of the foreshore and two
marinas and will on-sell the properties to Auckland City
Council for perpetual public use.
The Government successfully bid for Westhaven Marina and
has registered an option to buy Hobson West Marina, with
the intention of selling both marinas to Auckland City.
The city will buy the marinas with a requirement that the
marinas remain in public ownership.
"The land at Westhaven is to remain in perpetual
public ownership, so there is absolutely no doubt about
continued public access to the facilities at Westhaven
Marina such as the boat ramps," Associate Finance
Minister Trevor Mallard said.
Mr Mallard said the Crown would pay Ports of Auckland $52
million plus GST for Westhaven, with the option to
purchase Hobson West for $2 million plus GST.
"The outcome is very pleasing," said Ports of
Auckland Chief Executive Geoff Vazey.
Mr Vazey said that the Government's bid for Westhaven
Marina at $52 million was the most attractive, with the
particular benefit of being unconditional.
"We are satisfied that this is a fair market price
for the marina," Mr Vazey said.
Auckland mayor John Banks said the city's tender bid was
$44m -- $10m below the government bid.
However, he said the city could never have hoped to have
put in a commercially viable bid and without the support
of the Government, the marinas would have been sold to
foreign investors.
He said the city opted to go alone on the tender rather
than involve the other regional authorities that make up
the Auckland Regional Council.
He said it was gilt-edged real estate and the thought of
it falling into the hands of foreign investors for high
rise buildings was "frightening."
He said while it may appear expensive today, in 100 years
it would be relatively cheap.
|
