Common sense approach to Auckland City asset sales

Pragmatism and common sense has prevailed in the EY and Cameron Partners reports to Auckland City that present a suite of options to fund desperately needed infrastructure in the city.

“We’ve advocated long and hard that it’s time to get Auckland moving and enable it to cope with its growth. The issue has always been around how to fund this. These independent reports, made public today, go a long way to laying out the options the council has before it in regards to realising its assets,” says Kim Campbell, CEO, EMA.

“Selling off parts of the city’s parks, reserves and golf courses may be a step too far politically but options such as reviewing the port model, suggested privatisation or partial privatisation of Watercare and making better use of the city’s property portfolio are common sense options. The city could remain the landlord of the port and the major shareholder of Watercare retaining ownership that way.

“We’ve also questioned why the council is in the business of owning shares in Auckland Airport, when we see a need for the capital to be used elsewhere.

“The council needs to show willingness to sell some of these assets, in order to strengthen its case with central government to also invest in some of these projects. We strongly support the recommendation to use Public Private Partnerships (P3s) as a way of fast-tracking some of the key infrastructure projects for Auckland.

“This report is a great step forward for the council, and we look forward to seeing it progress through its next stages,” says Mr Campbell.

ENDS

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