AUCKLAND COUNCIL PROPERTIES

Strategic Review of Auckland Council Properties Limited's $900m property portfolio

#

Background to the Role

Auckland Council Property Limited (ACPL) manages Auckland Council assets worth around $900 million and ensures that there is an appropriate return on Auckland Council-owned commercial or 'non-service' property. These properties are managed as assets that are not required at the present time by Auckland Council or Auckland Transport for service delivery or infrastructure purposes.

ACPL also has an important role in facilitating development which supports the Council's broader place shaping and housing development objectives. This is particularly focused on supply at the more affordable end of the housing market and on regeneration of town centres. Leveraging of transport infrastructure investment is also a priority.

Part of the ACPL mandate is also to assist in the delivery of the Auckland Plan.

The Business Need

A key focus of the Auckland Plan is in accommodating significant growth projected for the region over the coming decades, which includes the need for substantial extra housing supply. Cranleigh was brought in to review ACPL's $900m property portfolio in order to identify strategic opportunities that could exist within this broader strategic objective. These opportunities would help to deliver on the urban development priorities arising from the Auckland Plan.

The Cranleigh Solution

Cranleigh assisted in preparing ACPL's submission on the Auckland Plan. This submission was the culmination of a series of streams of work including the preparation of a series of reports considering in particular the commercial response of the property market to the Auckland Plan.

In preparing these reports, Cranleigh and ACPL held a number of targeted workshops, consultation and one-on-one interviews with key commercial and property stakeholders in Auckland.

Cranleigh's review of the $900m property portfolio assisted ACPL in identifying strategic opportunities that could be targeted to optimise its property holdings.