Good story on Aucklands regional development by Todd Niall of RNZ.
The country’s first large-scale Urban Development Agency to be set up in Auckland to lead a multi-billion dollar revamp of suburban centres.
The council continues its drive to redevelop Aucklands suburban centers could be interesting to property developers and home buyers in the suburbs the plan covers. Our residential conveyancing team is one of the best in town and we would hope that we can make the process as smooth and painless as possible for you. On the other hand if you require assistance with negotiations, disputes and so on we are here and ready to help. Our team will put in the extra yards if this is required.
Auckland Mayor Len Brown, left, and council chief executive Stephen Town. Photo: RNZ / Todd Niall
Auckland Council is considering merging its waterfront agency and property company as it focuses on how to improve run down main streets. Council chief executive Stephen Town has provided a glimpse into the review, which will run for a further month.Mr Town said the council had looked at similar re-generation agencies in Australia, which put existing council property into joint ventures, with the private sector or government. Read the full story on Radio NZ website.
“In some parts of Auckland we’ve got very large land holdings clustered in town centres….It’s not inconceivable to see $500 million to $1.5 billion developments occurring over 10 years.”
The council is loathe to name possible redevelopment centres at this stage. However there are obvious candidates. On the same day as the council unveiled the agency proposal, members of Avondale Community Action appealed to the Auckland Development Committee to re-vitalise their neglected town centre. Avondale includes vacant private sites in the middle of the town centre, run down council-owned facilities, and Housing New Zealand property ripe for redevelopment. Other long-established centres in decline include Mt Albert, Otahuhu and Papatoetoe.
Councillors will give their verdict on the proposal next month and if it is approved, it will go out for public consultation as part of the 10-year Long-Term Plan process. Mr Town said the work though could begin in earnest before then, under existing council structures. He said the development agency would likely begin life inheriting a portfolio of surplus council property, but would be expected to enhance council finances, rather than be a burden on them. If an Urban Development Agency is formed, it is expected to result in cuts to management within the existing Waterfront Agency, and Auckland Council Properties Limited. That has yet to be explored. Mr Town said the only other major change proposed so far in the review of council-controlled organisations, is a down-sizing of Auckland Council Investments Limited (ACIP). ACIL manages the council’s commercial holdings such as Ports of Auckland, part-ownership of Auckland Airport, film studios and an investment portfolio.
Our team has substantial experience and a proven track record in the sale and purchase of: Cross Leases, Freehold properties, Leasehold properties, Unit Titles (Apartments and Carparks), Subdivisions and Residential Tenancies. Although conveyancing can be straightforward, sometimes mistakes can be costly. Accordingly, we strongly recommend you contact us as early as possible when you are buying or selling to ensure that we can add value to your requirements. We will do our best to ensure that your transaction is completed smoothly and efficiently and keep you informed as to progress. Our fees are highly competitive and we can also assist with structuring your purchase and in some cases you may require assistance with the formation of a family trust, a limited liability company or partnership or any other entity appropriate to your requirements.
We also suggest that you click on Legal Checklists in our Practical Law Library as you will find useful information there which will assist you.